Nigeria’s headline inflation rate declined slightly to 15.06 per cent in February 2026, down from 15.10 per cent recorded in January, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday.
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The statistics agency said the marginal drop represents a 0.04 percentage point decrease on a month-to-month basis, indicating a slight easing in the overall pace of rising consumer prices.
Despite the marginal decline in headline inflation, the report showed that food inflation increased to 12.12 per cent in February, compared with 8.89 per cent recorded in January, suggesting continued pressure on the prices of food items.
The NBS further disclosed that month-on-month inflation stood at 2.01 per cent in February, which was 4.89 percentage points higher than the −2.88 per cent recorded in January.
“This means that in February 2026, the rate of increase in the average price level was higher than the rate recorded in January 2026,” the bureau stated.
The latest data contrasts with an earlier projection by Financial Derivatives Company (FDC), which had forecast that Nigeria’s headline inflation would drop further to 14.07 per cent in February.
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