Nigeria’s economy recorded another positive sign as the nation’s inflation rate fell for the sixth consecutive month, according to the latest data released by the National Bureau of Statistics (NBS). This marks a steady decline that economic analysts believe could signal gradual recovery and market stability after months of rising prices.

The report showed that both the headline and food inflation rates dropped slightly compared to the previous month. Experts attribute the decline to improved agricultural output, stronger monetary policies by the Central Bank of Nigeria (CBN), and increased market supply of essential goods. The slowdown in inflation is seen as a relief for households and businesses struggling with high living costs.

Economists, however, cautioned that while the trend is encouraging, inflation remains relatively high compared to pre-crisis levels. They called for sustained government interventions to further stabilize prices, especially in the areas of food, energy, and transportation, which continue to affect the average Nigerian’s spending power.

The federal government has expressed optimism that ongoing reforms, including exchange rate adjustments, fiscal discipline, and food security initiatives, will strengthen the economy and maintain the downward trend. The NBS emphasized that the consistent decline reflects growing confidence in Nigeria’s economic direction.

Many Nigerians have welcomed the development, hoping it translates into lower prices of essential commodities in the coming months. Financial experts say if the trend continues, it could improve investor confidence, boost productivity, and stimulate growth across key sectors of the economy.