Abuja, March 18, 2025 – Nigeria’s headline inflation rate dropped to 23.18 per cent in February from the 24.48 per cent recorded in January 2025.
It represented a 1.30 per cent drop during the period.
The Nigerian Bureau of Statistics (NBS) reported this in its Consumer Price Index (CPI) and Inflation Report released on Monday.
The inflation rate was 8.52 per cent lower than the 31.70 per cent recorded in the corresponding period in 2024 on year-on-year basis,.
“This shows that the Headline inflation rate on a year-on-year basis decreased in February 2025 compared to February 2024, though with a different base year of November 2009”
The NSE reported a decrease in the food inflation rate in February 2025 to 23.51 per cent on a year-on-year basis which was 14.41 per cent lower than the 37.92 per cent recorded in February 2024.
It said the decline in the food inflation was technically due to the change in the base year which is 2024.
It attributed the drop in food inflation on a month-on-month basis to the decline in the average prices of food items like yam tuber, potatoes, soya beans, flour of maize/cornmeal, cassava, bambara beans (dried), among others.
