By Abigail Philip David
Nigeria’s inflation rate eased for the second consecutive month in February, signaling a possible peak in price pressures and a gradual slowdown in inflationary trends.
According to the latest report from the National Bureau of Statistics (NBS), released on Monday, the country’s headline inflation rate fell to 23.18% in February 2025, down from 24.48% in January, marking a 1.30% decrease within a month.
On a year-on-year basis, inflation dropped by 8.52 percentage points from 31.70% recorded in February 2024, reflecting a significant moderation in price increases compared to the same period last year.
The month-on-month inflation rate stood at 2.04% in February, indicating the pace at which prices rose within the month.
The NBS stated, “In February 2025, the headline inflation rate eased to 23.18%, compared to 24.48% in January 2025. This represents a decrease of 1.30% month-on-month. On a year-on-year basis, the rate was 8.52% lower than in February 2024.”
Despite ongoing price increases, the slowdown suggests inflationary pressures may be easing.
The decline in inflation follows efforts by the Central Bank of Nigeria (CBN) to curb rising prices through monetary tightening and forex stabilization policies. Inflation had surged to record highs in 2024 due to factors such as currency depreciation, high transportation costs, and supply chain disruptions.
