Inflation rate drops to 23.18% in February – NBS

The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s headline inflation rate, which fell from 24.48% in January 2025 to 23.18% in February 2025.

This was disclosed in the NBS Consumer Price Index (CPI) February 2025 report, which highlighted a 1.30% decrease in inflation compared to the previous month.

NBS said,

“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.”

The report also said on a year-on-year basis, the Headline inflation rate was 8.52% lower than the rate recorded in February 2024 (31.70%).

It further noted that 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.

NBS also said on a month-on-month basis, the Headline inflation rate in February 2025 stood at 2.04%.