Inflation Slows Down At 23.18 Percent In February 2025, Food Inflation 23.51 Percent

The National Bureau of Statistics (NBS) has disclosed the easing of inflationary trend in the month of February, 2025 as the rate stood at 23.18 % as against 24.48 % recorded in the month of January, 2025.

This was disclosed in Consumer Price Index (CPI) statistical data released Monday, 17 March, 2025, two days behind the regular scheduled timeframe of 15th day of every month.

The contributions of items on the Divisional level to the Headline Index are presented in the table above.

According to NBS, “In February 2025, the Headline inflation rate eased to 23.18% relative to the January 2025 headline inflation rate of 24.48%.

“Looking at the movement, the February 2025 Headline inflation rate showed a decrease of 1.30% compared to the January 2025 Headline inflation rate.

“On a year-on-year basis, the Headline inflation rate was 8.52% lower than the rate recorded in February 2024 (31.70%). This shows that the Headline inflation rate (year-on-year basis) decreased in February 2025 compared to the same month in the preceding year (i.e., February 2024), though with a different base year, November 2009 = 100.

“Furthermore, on a month-on-month basis, the Headline inflation rate in February 2025 stood at 2.04%.”

Further, there was decline in food inflation as the Food inflation rate in February 2025 was 23.51% on a year-on-year basis.

“This was 14.41% lower compared to the rate recorded in February 2024 (37.92%). 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%. 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 34.74%, which was 4.67% points higher compared with the
average annual rate of change recorded in February 2024 (30.07%)”, NBS explained.