Nigeria’s Inflation Decreases to 23.18% in February 2025

Nigeria’s inflation rate declined to 23.18% in February 2025, down from 24.48% in January. Year-on-year, inflation decreased by 8.52% from February 2024’s 31.70%. Food inflation fell to 23.51%, and core inflation decreased to 23.01%. Urban inflation dropped to 25.15%, while rural inflation reached 19.89% year-on-year.

The National Bureau of Statistics (NBS) announced a decrease in Nigeria’s Consumer Price Index (CPI), with inflation falling to 23.18% in February 2025 from 24.48% in January. This year-on-year figure reflects an 8.52% decline compared to the inflation rate of 31.70% recorded in February 2024. The CPI’s month-on-month inflation rate stood at 2.04% for February.

In summary, Nigeria’s inflation rates have shown a noteworthy decline, particularly within food sectors and core inflation metrics. Urban and rural inflation also decreased significantly. However, certain states continue to experience higher inflation levels. The impact of the rebasing of the CPI should be acknowledged, along with the contributions of various sectors to the overall inflation rate.

Original Source: www.arise.tv