The National Bureau of Statistics (NBS) has announced a decrease in Nigeria’s inflation rate, which dropped to 23.18% in February 2025, down from 24.48% in January.
The latest Consumer Price Index (CPI) report, released on Monday, highlighted this reduction while noting a slight month-on-month increase of 1.30 percentage points.
In a year-on-year comparison, inflation was 8.52 percentage points lower than the 31.70% recorded in February 2024, signalling a slowdown in the country’s inflationary trend.
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The NBS also reported that, on a monthly basis, the inflation rate for February stood at 2.04%, reflecting ongoing price fluctuations in the economy.
Despite the drop, concerns about rising consumer prices persist, as economic pressures continue to affect households and businesses.
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