As a result of the fall in the cost of food, fuel and gas, the headline inflation eased from 24.48 per cent in January 2025 to 23.18 per cent in February this year.
The National Bureau of Statistics (NBS) made this known yesterday in its document titled: Consumer Price Index (CPI) February 2025. It added that the headline inflation showed a decrease of 1.30 per cent compared to the January 2025 headline inflation.
NBS said, “In February 2025, the Headline inflation rate eased to 23.18per cent relative to the January 2025 headline inflation rate of 24.48 per cent.
“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30per cent compared to the January 2025 Headline inflation rate.”
The report also said on a-year-on-year basis, the Headline inflation rate was 8.52per cent lower than the rate recorded in February 2024 (31.70per cent).
It further noted that this shows that the headline inflation rate (year-on-year basis) decreased in February
2025 compared to the same month in the preceding year (that is February 2024), though with a different base year, November 2009 = 100.
NBS also said on a month-on-month basis, the headline inflation rate in February 2025 stood at 2.04 per cent.
The document said while food and non- alcoholic contributed 0.82 per cent to the headline inflation, in the month under review, housing, water, electricity, gas and other fuels contributed 0.22 per cent to it.
NBS said the percentage change in the average CPI for the twelve months ending February 2025 over the average for the previous twelve-month period was 30.09per cent, showing 3.91per cent points increase compared to 26.18per cent recorded in February 2024.
On urban inflation, NBS said on a year-on-year a year-on-year basis, in February 2025, the Urban inflation rate was 25.15per cent, showing 8.51per cent points lower compared to the 33.66per cent recorded in February 2024.
It said on a month-on-month basis, the Urban inflation rate was 2.40per cent in February 2025.
The report added that the corresponding twelve-month average for the Urban inflation rate was 32.22per cent in February 2025. This was 4.28per cent points higher compared to the 27.93per cent reported in February 2024.
On rural inflation, NBS said the Rural inflation rate in February 2025 was 19.89per cent on a year-on-year basis.
NBS said this was 10.09per cent lower than the 29.99per cent recorded in February 2024. On a month-on-month basis, the Rural inflation rate in February 2025 was 1.16per cent.
NBS said: “The Food inflation rate in February 2025 was 23.51per cent on a year-on-year basis. This was 14.41per cent lower compared to the rate recorded in February 2024 (37.92per cent). The significant decline in the food inflation figure is technically due to the change in the base year.
“However, on a month-on-month basis, the Food inflation rate in February 2025 was 1.67 per cent. Compared to the month of January 2025, there was an observed decline in the average prices of food items like Yam tuber, Potatoes, Soya beans, Flour of maize/cornmeal, Cassava, Bambara beans (Dried), etc.
“The average annual rate of Food inflation for the twelve months ending February 2025 over the previous twelve-month average was 34.74per cent, which was 4.67per cent points higher compared with the average annual rate of change recorded in February 2024 (30.07per cent).”
NBS said in February 2025, all Items inflation rate on a Year-on-Year basis was highest in Edo (33.59per cent), Enugu (30.72per cent), and Sokoto (30.19%), while Kaduna (15.45per cent), Akwa Ibom (15.53per cent), Plateau (15.74per cent) recorded the lowest rise in Headline inflation on Year-on-Year basis.
The report added that on a Month-onMonth basis, however, February 2025 recorded the highest increases in Sokoto (11.98per cent), Kogi (11.38per cent), Edo (8.87per cent), while Kaduna (-8.83per cent), Ondo (-4.78per cent) and Plateau (-3.73per cent) recorded the lowest rise in Month-on-Month inflation.
On food inflation, NBS said in February 2025, Food inflation on a Year-on-Year basis was highest in Sokoto (38.34per cent), Edo (35.08per cent), Nasarawa (33.53per cent), while Adamawa (12.18per cent), Ondo (13.66per cent), and Oyo (15.55per cent) recorded the slowest rise in Food inflation on Year-on-Year basis. On a Month-on-Month basis, however, February 2025 Food inflation was highest in Sokoto (18.83per cent), Nasarawa (15.32per cent), and Kogi (11.65per cent) while Ondo (-9.81per cent), Kaduna (-8.91per cent), and Oyo (-6.42per cent) recorded decline in Food inflation on Month-on-Month basis.
