Nigeria’s inflation rate for May 2025 decreased to 22.97 percent compared to the April 2025 rate of 23.71 percent, representing a decline of 0.74 percent. Data released on Monday by the National Bureau of Statistics (NBS) stated that the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 9.20 percent, Restaurants & Accommodation Services: 2.97 percent, and Transport: 2.45 percent. The NBS stated that the least contributors were Recreation, Sport, and Culture: 0.07 percent, Alcoholic Beverages, Tobacco, and Narcotics: 0.09 percent, and Insurance and Financial Services: 0.11…
Read MoreNigeria’s Inflation Rate Declines To 22.97% — NBS
