The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate fell to 23.18 percent in February, down from 24.48 percent in January.
The bureau released this information in its February 2025 consumer price index (CPI) on Monday.
According to the NBS, the headline inflation rate in February increased slightly by “1.30 percentage points” when compared to the January 2025 figure.
“In February 2025, the headline inflation rate eased to 23.18% compared to the January 2025 rate of 24.48%,” the NBS stated.
“This indicates a reduction of 1.30% in the headline inflation rate from January 2025 to February 2025.
“On a year-on-year basis, the headline inflation rate was 8.52% lower than the rate recorded in February 2024, which was 31.70%.
“This reflects a decrease in the headline inflation rate in February 2025 compared to the same month of the previous year (i.e., February 2024), albeit based on a different reference year, November 2009 = 100.
“Additionally, on a month-on-month basis, the headline inflation rate for February 2025 was recorded at 2.04%.”
