Nigeria’s Inflation Rate Decreases to 23.2% in February 2025

Nigeria’s inflation rate has decreased to 23.2% in February 2025, down from 24.1% in January. This drop follows a significant revision of the consumer price index by Bloomberg to better reflect current inflation pressures. Official confirmation from the National Bureau of Statistics is still awaited.

In February 2025, Nigeria’s inflation rate registered a decline to 23.2%, down from the previous rate of 24.1% noted in January 2025. This information was presented by Bloomberg, which recently revised the consumer price index for the first time in 16 years, changing the reference year to 2024. This adjustment was purportedly made to more accurately reflect the inflationary pressures experienced by households in Nigeria.

As of the time of this report, the National Bureau of Statistics (NBS) has not officially confirmed the new inflation figure on its website or through its official communication channels. Bloomberg’s analysis serves as a key source for this information.

In summary, Nigeria’s inflation rate has decreased to 23.2% as of February 2025, a slight improvement from the prior month. With the recent changes to the consumer price index by Bloomberg, this data aims to present a more accurate depiction of the inflationary impact on households. However, official validation from the National Bureau of Statistics remains pending.

Original Source: nairametrics.com