Nigeria’s inflation rate dropped to 23.2% in February 2025 from 24.1% in January 2025. Bloomberg reports this decline following a significant revision of the consumer price index. The reference year has now been updated to 2024, although official confirmation from the NBS is yet to be issued.
In February 2025, Nigeria’s inflation rate decreased to 23.2%, a modest decline from the 24.1% rate observed in January 2025, as reported by Bloomberg. This change comes alongside significant revisions to the consumer price index, which had not been updated in 16 years, with the reference year now set to 2024. This overhaul is intended to provide a more accurate representation of the inflationary pressures that households in Nigeria are currently experiencing. While this information has not yet been officially confirmed on the National Bureau of Statistics website or its official channels, Bloomberg has provided this update. Further details are anticipated shortly.
The recent adjustment in Nigeria’s inflation rate indicates a slight improvement as recorded in February 2025. The update of the consumer price index aims to present a clearer picture of inflation challenges faced by residents. However, official confirmation from the National Bureau of Statistics is still pending.
Original Source: nairametrics.com
