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National Bureau of Statistics, NBS, has announced that Nigeria’s headline inflation rate dropped to 22.97 percent.
NBS said the May 2025 headline inflation rate decreased by 0.74 per cent compared to the April headline inflation rate, while on a month-on-month basis, inflation declined significantly to 1.53 percent in May from 1.86 percent in April.
On a year-on-year basis, the NBS said the headline inflation rate was 10.98 per cent lower than the rate recorded in May 2024 (33.95 per cent), adding that the decline was driven by a slowdown in price increases across key segments, including farm produce, utilities, clothing, and health.
Also, food inflation declined to 21.14 percent in May from 21.16 percent in April, which has been attributed to base-year effects following the inflation rebasing methodology.
Chelsea kicked off their Club World Cup campaign with a comfortable 2-0 victory over Los Angeles FC in Group D The Blues, who are the first Premier League side to feature in this year’s tournament, took the lead in the 34th minute after dominating much of the opening exchanges, with PEDRO NETO latching onto a long ball and took two sublime touches before firing into the bottom corner of HUGO LLORIS’ net. The MLS […]
