The National Bureau of Statistics (NBS) has reported a slight decline in Nigeria’s inflation rate, which fell from 15.1 percent in January to 15.06 percent in February 2026.
The figures were contained in the bureau’s Consumer Price Index (CPI) report for February released on Monday.
According to the NBS, the CPI, which measures the average change in prices of goods and services over time, declined by 0.04 percent month-on-month compared to the headline inflation recorded in January 2026.
The bureau also noted a significant improvement when compared with the same period last year.
“On a year-on-year basis, the Headline inflation rate was 11.21% lower than the rate recorded in February 2025 (26.27%),” the report stated.
“This shows that the Headline inflation rate (year-on-year basis) decreased in February 2026 compared to the same month in the preceding year.”
However, on a month-on-month basis, inflation rose.
The report showed that the headline inflation rate in February 2026 stood at 2.01 percent, representing a 4.89 percent increase compared to -2.88 percent recorded in January 2026.
According to the NBS, this indicates that although the overall inflation rate declined slightly, the pace of increase in the average price level in February was higher than in January.
The statistics agency further stated that the percentage change in the average CPI for the twelve months ending February 2026 over the previous twelve-month period stood at 21.03 percent.
This represents a 3.02 percent increase compared to the 18.01 percent recorded in February 2025.
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