Nigeria’s headline inflation rate has dropped to 23.18% in comparison with the January 2025 headline inflation rate of 24.48%.
This development is contained in the consumer price index (CPI) report issued by the Nigeria Bureau of Statistics (NBS) on Monday.
According to NBS, the headline inflation rate showed a decrease of 1.30% compared to the January 2025 headline inflation rate.
The Bureau noted that the trend shows that the year-on-year basis headline inflation rate decreased in February 2025 compared to the same month in the preceding year.
It added that on a month-on-month basis, the headline inflation rate in February 2025 stood at 2.04%.
For Food inflation, the NBS said the rate in February 2025 was 23.51% on a year-on-year basis.
According to the Bureau, this was 14.41% lower compared to the rate recorded in February 2024 (37.92%).
It said that the significant decline in the food inflation figure is technically due to the change in the base year.
However, on a month-on-month basis, NBS said the food inflation rate in February 2025 was 1.67%.
Compared to the month of January 2025, there was an observed decline in the average prices of food items like Yam tuber, Potatoes, Soya beans, Flour of maize/cornmeal and Cassava among other items
News Edited by Oni Kayode Philips