Nigeria’s Inflation Drops By 1.30% 

42 minutes ago
Please share

Nigeria’s headline inflation rate eased to 23.18% in February 2025, relative to the January 2025 headline inflation rate of 24.48%, a report by the National Bureau of Statistics (NBS) said.

The report which was released on Monday, noted that looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30% compared to the January 2025 Headline inflation rate. 

According to the report, on a year-on-year basis, the Headline inflation rate was 8.52% lower than the rate recorded in February 2024 (31.70°0). 

This, it noted, shows that the Headline inflation rate (year-on-year basis) decreased in February 2025 compared to the same month in the preceding year (i.e., February 2024), though with a different base year, November 2009 = 100. 

Besides, on a month-on-month basis, the Headline inflation rate in February 2025 stood at 2.04%.

The percentage change in the average CPI for the twelve months ending February 2025 over the average for the previous twelve-month period was 30.09%, showing 3.91% points increase compared to 26.18% recorded in February 2024. 

On a year-on-year basis, in February 2025, the Urban inflation rate was 25.15%, showing 8.51% points lower compared to the 33.66% recorded in February 2024. 

On a month-on-month basis, the Urban inflation rate was 2.40% in February 2025. The corresponding twelve-month average for the Urban inflation rate was 32.22% in February 2025. This was 4.28% points higher compared to the 27.93% reported in February 2024. 

The Rural inflation rate in February 2025 was 19.89% on a year-on-year basis. This was 10.09% lower than the 29.99% recorded in February 2024. On a month-on-month basis, the Rural inflation rate in February 2025 was 1.16%. 

The corresponding twelve-month average for the Rural inflation rate in February 2025 was 27.94%. 

This was 3.33% points higher compared to the 24.61%. recorded in February 2024. 

The food inflation rate in February 2025 was 23.51% on a year-on-year basis. This was 14.41% lower compared to the rate recorded in February 2024 (37.92%). 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%. Compared to the month of January 2025, there was an observed decline in the average prices of food items like Yam tuber, Potatoes, Soya beans, 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%, which was 4.67% points higher compared with the average annual rate of change recorded in February 2024 (30.07%). 

The “All items less farm produces and energy” or Core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 23.01% in February 2025 on a year-on year basis; a decline of 2.12% points when compared to the 25.13% recorded in February 2024. 

On a month-on-month basis, the Core Inflation rate was 2.52% in February 2025. The average twelve-month annual inflation rate was 25.33% for the twelve months ending February 2025, this was 3.60% points higher than the 21.72% recorded in February 2024.

In February 2025, All Items inflation rate on a Year-on-Year basis was highest in Edo (33.59%), Enugu (30.72%), and Sokoto (30.19%), while Kaduna (15.45°o), Akwa Ibom (15.53°o), Plateau (15.74%) recorded the lowest rise in Headline inflation on Year-on-Year basis. 

On a Month-on Month basis, however, February 2025 recorded the highest increases in Sokoto (11.98°o), Kogi (11.38%), Edo (8.87%), while Kaduna (-8.83%), Ondo (-4.78° 0) and Plateau (-3.73°o) recorded the lowest rise in Month-on-Month inflation. 

In February 2025, Food inflation on a Year-on-Year basis was highest in Sokoto (38.34%), Edo (35.08%), Nasarawa (33.53%), while Adamawa (12.18%), Ondo (13.66°e), and Oyo (15.55%) recorded the slowest rise in Food inflation on Year-onYear basis. 

On a Month-on-Month basis, however, February 2025 Food inflation was highest in Sokoto (18.83%), Nasarawa (15.32°o), and Kogi (11.65%) while Ondo (-9.81%), Kaduna (-8.91%), and Oyo (-6.42%) recorded decline in Food inflation on Month-on-Month basis.

Please share

Leave a Reply

Your email address will not be published.

Don't Miss

CPPE Boss Seeks Caution Over Drop In Nigeria’s Inflation Rate

Dr.Muda Yussuf,the Chief Executive Officer of Centre for the Private Enterprise,CPPE,has advocated

Nigeria’s Inflation Rate Drops To 24.48% 

Nigeria’s inflation rate has dropped to 24.48% following the rebasing of the