Nigeria’s headline inflation rate dropped to 23.18% relative to the January 2025 headline inflation rate of 24.48%.

This was disclosed by the Nigeria Bureau of Statistics (NBS) in its February 2025 consumer price index (CPI) on Monday.

According to NBS, the headline inflation rate showed a decrease of 1.30% compared to the January 2025 headline inflation rate.

The Bureau noted that this shows that the year-on-year basis headline inflation rate decreased in February 2025 compared to the same month in the preceding year.

It added that on a month-on-month basis, the headline inflation rate in February 2025 stood at 2.04%.

Food inflation

For Food inflation, the NBS said the rate in February 2025 was 23.51% on a year-on-year basis.

According to the Bureau, this was 14.41% lower compared to the rate recorded in February 2024 (37.92%).

It said that the significant decline in the food inflation figure is technically due to the change in the base year. However, on a month-on-month basis, NBS said the food inflation rate in February 2025 was 1.67%.