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Headline inflation drops slightly from 15.10% in January to 15.06% in February.
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Food prices rise to 12.12%, continuing pressure on cost of living.
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Month-on-month increase recorded at 2.01%, signaling faster price growth than January.
Nigeria’s inflation rate eased to 15.06 per cent in February, down from 15.10 per cent in January, the National Bureau of Statistics (NBS) reported.
The bureau’s February Consumer Price Index (CPI) release showed a 0.04-percentage point decline in headline inflation compared to the previous month.
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Despite the slight easing, food inflation climbed to 12.12 per cent from 8.89 per cent in January, reflecting continued pressure on household budgets.
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On a month-to-month basis, the headline inflation rate rose 2.01 per cent, a sharp increase compared to January’s -2.88 per cent, indicating that prices grew faster over the period.
The Financial Derivatives Company (FDC) had earlier predicted a bigger decline to 14.07 per cent.
Since the removal of the petrol subsidy in 2023, consumer prices have generally surged, though the government claims recent months show easing prices—a point disputed by opposition critics who argue the relief is yet to reach ordinary Nigerians.