Nigeria’s Inflation Rate Declines to 23.2% in February 2025

Nigeria’s inflation rate fell to 23.2% in February 2025, down from 24.1% in January. This change follows a significant overhaul of the consumer price index, now referencing 2024, to better reflect economic conditions. Confirmation from the NBS is pending.

In February 2025, Nigeria’s inflation rate decreased to 23.2%, down from 24.1% in January 2025, as reported by Bloomberg. This rate adjustment comes following a significant overhaul of the consumer price index, the first in 16 years, with the reference year now set to 2024. The change aims to better capture the inflationary pressures experienced by households across Nigeria. It is important to note that, as of the report’s publication, this information had not yet been confirmed by the National Bureau of Statistics (NBS) through its official channels.

In summary, Nigeria’s inflation rate has shown a slight decline in February 2025, reflecting ongoing economic adjustments. The recent update to the consumer price index indicates efforts to accurately address and represent current inflationary impacts on Nigerian households. Continuous monitoring and further confirmations from the NBS will provide clearer insights into these economic changes.

Original Source: nairametrics.com