The National Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate eased to 23.18% in February 2025, down from 24.48% recorded in January 2025.
The NBS said in a statement released on Monday that the figure represented a 1.30% drop from the figure recorded in January 2025, indicating that price pressures are moderating and are expected to continue easing in the coming months.
According to the statement, on a year-on-year basis, the February 2025 inflation rate was 8.52% lower than the 31.70% recorded in February 2024, marking a significant decline.
On a month-on-month basis, the inflation rate stood at 2.04% in February 2025.
The NBS stated that the 12-month average Consumer Price Index (CPI) for February 2025 was 30.09%, which is 3.91 percentage points higher than the 26.18% recorded in February 2024.
On Urban inflation, the statement said that the Year-on-year stood at 25.15%, marking an 8.51% decline from 33.66% in February 2024.
On Urban inflation, the NBS said that it was 2.40% on month-on-month in February 2025.
It added that the urban inflation rate was 32.22% in 12-month average, which is 4.28 percentage points higher than 27.93% in February 2024, while the rural inflation rate was 19.89% on year-on-year, down by 10.09% from 29.99% in February 2024, while the rural inflation rate was 1.16% on month-on-month in February 2025.
However, reacting to the inflation rate for February 2025 announced by the NBS, some Nigerian have expressed concern over the drop in the inflation rate amid the high cost of essential commodities nationwide.
The report by Punch newspaper on Tuesday said that despite this overall decline in inflation rate, three states – Edo, Enugu, and Sokoto – recorded inflation rates exceeding 30 per cent, according to the latest Consumer Price Index report released on Monday by the National Bureau of Statistics.
GIK/APA