In February 2025, Nigeria’s inflation rate dropped to 23.2% from 24.1% in January. Bloomberg reported this change after overhauling the consumer price index, which now uses 2024 as a reference year. This update aims to better depict inflationary pressures on Nigerian households, although it awaits confirmation from official channels.
In February 2025, Nigeria’s inflation rate experienced a decrease to 23.2%, a mild reduction from the previous rate of 24.1% recorded in January 2025. This information was reported by Bloomberg, which updated the consumer price index for the first time in 16 years, adjusting the reference year to 2024. This change aims to provide a more accurate reflection of inflationary pressures that households in Nigeria are encountering.
As of the current report, this information has not yet been confirmed on the National Bureau of Statistics (NBS) website or through its official channels, although Bloomberg has provided this update.
The reported decline in Nigeria’s inflation rate to 23.2% in February 2025 marks a notable change from previous months. The adjustment of the consumer price index and the introduction of a new reference year are significant developments to better understand the economic situation in Nigeria. Further confirmation from official sources is awaited.
Original Source: nairametrics.com
