The National Bureau of Statistics (NBS) says Nigeria’s inflation rate declined to 23.18 percent in February, from 24.48 percent reported in January.

 

NBS announced the decline in its February 2025 consumer price index (CPI) on Monday.

 

The bureau said the headline inflation rate in February rose marginally by “1.30% points when compared to the January 2025 headline inflation rate”.

 

“In February 2025, the Headline inflation rate eased to 23.18% relative to the January 2025 headline inflation rate of 24.48%,” NBS said.

“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 rate recorded in February 2024 (31.70%).

 

“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.

 

“Furthermore, on a month-on-month basis, the Headline inflation rate in February 2025 stood at 2.04%.”