Data from the National Bureau of Statistics mentions that headline inflation in Nigeria rose to 24.2% in March, after a brief downturn in February.

The increase in inflation is due to the festive demand during Eid al-Fitr, the depreciation of the currency and the increase in logistics costs. Core inflation held steady at 24.43%, while food inflation fell slightly from 22.9% in February to 21.79%, indicating price pressures beyond the seasonal effects of food. Analysts expect inflation to remain above 20% in the coming months. Meristem forecasts inflation between 20% and 24% until mid-2025, while stressing the risks associated with exchange rate fluctuations and commodity shocks. The inflation rate in Nigeria rose in March, with currency depreciation and holiday spending outweighing a slight drop in food prices. é The new weakness of the naira, which has crossed the $1,400 mark ₦ , has increased prices. û Imports in all sectors, fuelling core inflation, even ê if food inflation has occurred é considerably slowed è down