Nigeria’s inflation rate decreased to 23.18% in February 2025, down from 24.48% in January, according to the National Bureau of Statistics (NBS).
The reduction in the inflation rate marks a drop of 1.30% from January’s figures.
When compared to February 2024, the inflation rate is 8.52% lower than the 31.70% recorded at that time.
The NBS also noted that on a month-to-month basis, the inflation rate increased by 2.04% in February 2025.
The drop in inflation reflects a change in prices across various sectors.
Food inflation for February 2025 stood at 23.51%, lower than January’s 26.08%.
The food inflation rate is also much lower than the 37.92% recorded in February 2024.
The NBS attributed this decline, in part, to changes in the base year used for calculations.
On a month-to-month comparison, food prices rose by 1.67%.
The report shows that food prices for items such as yam tuber, potatoes, soybeans, cornmeal, cassava, and dried Bambara beans decreased compared to January 2025.
Regionally, Edo State recorded the highest year-on-year food inflation at 33.59%, followed by Enugu at 30.72%, and Sokoto at 30.19%.
On the other hand, Kaduna, Akwa Ibom, and Plateau had the lowest food inflation rates, all under 16%. Month-to-month, Sokoto, Kogi, and Edo had the highest food inflation rates, while Kaduna, Ondo, and Plateau saw declines in food inflation.
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