Nigeria’s Inflation Rate Falls to 23.18% in February 2025 – NBS
Nigeria’s inflation rate declined to 23.18% in February 2025, down from 24.48% in January 2025, according to the National Bureau of Statistics (NBS). This 1.30% decrease suggests that price pressures are easing, with expectations of further declines in the coming months.
Year-on-Year Inflation Trends
- The inflation rate in February 2025 was 8.52% lower than the 31.70% recorded in February 2024, marking a significant drop.
- The 12-month average Consumer Price Index (CPI) for February 2025 stood at 30.09%, an increase of 3.91 percentage points from 26.18% in February 2024.
Urban and Rural Inflation Breakdown
Urban Inflation:
- Year-on-Year: 25.15%, down 8.51% from 33.66% in February 2024.
- Month-on-Month: 2.40% in February 2025.
- 12-Month Average: 32.22%, up 4.28 percentage points from 27.93% in February 2024.
Rural Inflation:
- Year-on-Year: 19.89%, a 10.09% decrease from 29.99% in February 2024.
- Month-on-Month: 1.16% in February 2025.
- 12-Month Average: 27.94%, up 3.33 percentage points from 24.61% in February 2024.
Food Inflation Declines
- Year-on-Year: 23.51%, down 14.41% from 37.92% in February 2024.
- Month-on-Month: 1.67% in February 2025.
The decline in food inflation is attributed to base-year adjustments, along with lower prices of essential food items like yam tubers, potatoes, soybeans, maize flour, cassava, and dried Bambara beans.