By Ayomide Otitoju
The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s headline inflation rate, which eased to 23.18% in February 2025, down from 24.48% recorded in January 2025.
In its Consumer Price Index (CPI) report released on Monday, the NBS noted that the latest figure represents a decrease of 1.30 percentage points compared to the previous month.
“On a year-on-year basis, the headline inflation rate was 8.52 percentage points lower than the 31.70% recorded in February 2024,” the report stated, indicating a notable slowdown in inflationary pressure compared to the same period last year.
The bureau further revealed that on a month-on-month basis, the headline inflation rate stood at 2.04% in February 2025.
Food Inflation Declines
The NBS also reported a significant drop in food inflation, which stood at 23.51% on a year-on-year basis in February 2025. This marks a sharp decline of 14.41 percentage points from the 37.92% recorded in February 2024, largely attributed to a change in the base year used for calculation.
On a month-on-month basis, food inflation stood at 1.67%, reflecting a slight decrease from the previous month.
The NBS highlighted a decline in the average prices of key food items such as yam tubers, potatoes, soya beans, maize flour, cassava, and Bambara beans.
“The average annual rate of food inflation for the twelve months ending February 2025 was 34.74%, which is 4.67 percentage points higher than the 30.07% recorded in February 2024,” the report added.
The latest inflation data suggests a gradual easing of price pressures in the economy, offering relief to consumers and policymakers.
