Inflation Eases to 15.06%James Emejo in Abuja

The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities dropped by 0.04 per cent to 15.06 per cent in February compared to 15.10 per cent in January, the National Bureau of Statistics (NBS) said Monday.

Year-on-year, headline inflation reduced by 11.21 per cent compared to 26.27 per cent in February 2025.

Month-on-month, however, inflation increased to 2.01 per cent in February, a 4.89 per cent jump compared to -2.88 per cent in January, the NBS stated in its CPI report for the month under review.

Year on year, food inflation stood at 12.12 per cent compared to 26.98 per cent in February 2025.

However, on month-on-month, the food index rose 10.70 per cent to 4.69 per cent compared to -6.02 per cent in January.

The NBS attributed the spike in food inflation to the rate of increase in average prices of beans, carrots, okazi leaf, cassava tuber, crayfish, millet flour, yam flour, snails, avenger (ogbono/apon) – dried ungrinded, and cow peas among others.

The “All items less farm produces and energy” or core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 15.88 per cent, year on year in February, indicating 9.78 per cent decline compared to 25.66 per cent in February 2025.

Month-on-month, however, core inflation increased to 0.89 per cent compared to -1.69 per cent in January.

Details later…