The National Bureau of Statistics (NBS) has reported a decrease in Nigeria’s inflation rate, which fell to 23.18% in February from 24.48% in January.
The announcement was made in the February 2025 Consumer Price Index (CPI) released by the NBS on Monday.
According to the bureau, the headline inflation rate in February increased slightly by “1.30% points when compared to the January 2025 headline inflation rate.”
The NBS stated:
“In February 2025, the Headline inflation rate eased to 23.18% relative to the January 2025 headline inflation rate of 24.48%.”
“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30% compared to the January 2025 Headline inflation rate.”
On a year-on-year basis, the headline inflation rate was 8.52% lower than the 31.70% recorded in February 2024.
The NBS further noted:
“This shows that the Headline inflation rate (year-on-year basis) decreased in February 2025 compared to the same month in the preceding year (i.e., February 2024), though with a different base year, November 2009 = 100.”
Additionally, the month-on-month inflation rate for February 2025 was recorded at 2.04%.
More to come…
