In a welcome respite for consumers, Nigeria's Consumer Price Index (CPI) saw a modest decline in May, registering at 22.97%. This marks a decrease from April's 23.71%, showcasing a budding trend that may signal relief for the nation's inflation-weary populace.
Data released on June 16, 2025, indicates that the year-over-year comparison highlights this downward shift, suggesting that the inflation rate is beginning to stabilize after a period of rapid acceleration. This could potentially ease the financial strain on households, with the cost of living pressures slightly diminishing.
Economists are cautiously optimistic, noting that while the reduction is small, it represents a crucial step towards achieving more sustainable economic conditions. This positive movement could bode well for future fiscal policies aimed at bolstering the nation's economic stability and growth.
