Photo Credit: Medium/John Agboola

Nigeria’s headline inflation rate moderated marginally to 15.06 percent in February 2026, down from 15.10 percent recorded in January, according to the National Bureau of Statistics.

Despite the slight decline on a year-on-year basis, the data showed a rebound in monthly price pressures during the period. The Consumer Price Index rose to 130.0 in February from 127.4 in January.

On a month-on-month basis, headline inflation increased to 2.01 percent, a sharp reversal from the -2.88 percent recorded in January, indicating renewed short-term price pressures.

Urban inflation stood at 15.53 percent year-on-year, while rural inflation was recorded at 13.93 percent. However, both segments recorded increases on a monthly basis, with urban inflation rising to 2.55 percent and rural inflation to 0.71 percent.

Food inflation also followed a mixed trend, easing significantly year-on-year to 12.12 percent but rising sharply month-on-month to 4.69 percent. The increase was driven by higher prices of staple items including beans, cassava, yam flour and crayfish.

Core inflation, which excludes volatile agricultural produce and energy prices, stood at 15.88 percent year-on-year, while rising to 0.89 percent on a monthly basis.

The data highlights a gradual easing in annual inflation levels, even as short-term price pressures persist across both food and core components of the economy.