According to the latest data from the National Bureau of Statistics (NBS), Nigeria's headline inflation rate saw a slight decline to 15.06% in February 2026.
This figure is a drop of 0.04 percentage points from the 15.10% recorded in January 2026. On a year-on-year basis, the inflation rate is significantly lower, showing an 11.21 percentage points decrease compared to the 26.27% recorded in February 2025.
The NBS report emphasizes that this reduction signifies a year-on-year decline in the headline inflation rate for February 2026 relative to the previous year.
However, the NBS also indicated that on a month-on-month basis, the rate of change in the general price level has increased compared to January.
Specifically, the month-on-month headline inflation rate for February 2026 was reported at 2.01%, indicating a rise of 4.89 percentage points above the rate of -2.88% recorded in January 2026. This suggests that the average price level has seen a larger increase in February than it did the previous month.
In terms of food prices, the report states that food inflation reached 12.12% year-on-year, which is a drop of 14.86 percentage points from last year's 26.98% in February 2025.
Nonetheless, food inflation did witness a month-on-month rise, climbing to 4.69% in February 2026, which is an increase of 10.70 percentage points compared to the -6.02% recorded in January 2026.
The increase in food prices is attributed to rising costs of various food items, including beans, carrots, cassava, and more. Additionally, the NBS noted that the average annual food inflation rate for the 12 months ending in February 2026 stood at 19.08%, down by 18.31 percentage points from 37.40% in February 2025.
Comments (0)
You must be logged in to comment.
Be the first to comment on this article!