Again, Nigeria’s headline inflation dropped to 23.18 percent in February 2025 from 24.48 percent recorded in January as food prices eased.

The National Bureau of Statistics disclosed this in its latest Consumer Price Index released on Monday.

This showed that the country’s inflation declined by 1.30 percent on a month-on-month basis and 8.52 percent on a year-on-year basis.


Similarly, food inflation declined by 2.57 percent on a month-on-month basis to 23.51 percent in February from 26.08 percent in January. Also, the country’s food dropped to 23.51 in February 2025 from 37.92 percent recorded in February 2024.

The decline in the inflation figure is attributed to January’s rebasing of CPI data.

The data showed that the food inflation drop was due to the reduction in the prices of food items like yam tubers, potatoes, soybeans, flour of maize/cornmeal, cassava, Bambara beans (dried), etc.

The report read, “The food inflation rate in February 2025 was 23.51 percent on a year-on-year basis. This was 14.41% lower compared to the rate recorded in February 2024 (37.92 percent). 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, the food inflation rate in February 2025 was 1.67 percent. Compared to the month of January 2025, there was an observed decline in the average prices of food items like yam tubers, potatoes, soybeans, flour of maize/cornmeal, cassava, Bambara beans (dried), etc.

“The average annual rate of food inflation for the twelve months ending February 2025 over the previous twelve-month average was 34.74 percent, which was 4.67 percentage points higher compared with the average annual rate of change recorded in February 2024 (30.07 percent).”

Recall that Nigeria’s inflation dropped in January after CPI was rebased.

https://dailypost.ng/2025/03/17/again-inflation-drops-in-nigeria-as-food-prices-ease/