Nigeria’s inflation rate eased to 23.18% in February 2025, marking a decline from the 24.48% recorded in January.
This is according to statistics from the National Bureau of Statistics (NBS).
The latest Consumer Price Index (CPI) report, released on Monday, indicates a slowdown in price increases despite ongoing economic challenges.
While the month-on-month inflation rate showed a marginal decrease, the data reveals a significant drop compared to February 2024, when inflation stood at 31.70%. This suggests that inflationary pressures have softened over the past year, offering cautious optimism for consumers and businesses struggling with high costs.
However, analysts suggest that factors such as improved food supply, currency stability, and government interventions in key sectors may have contributed to the decline. Unfortunately, many households continue to face rising costs of essential goods, with food prices remaining a concern despite the overall easing of inflation.
The latest figures come as Nigeria grapples with economic reforms and policy shifts aimed at stabilizing the economy.
Recall that The Central Bank of Nigeria (CBN) has been adjusting monetary policies to curb inflation while balancing growth, with interest rate adjustments playing a key role in recent months.
