Inflation comes down to 15.06% in February
By Patience Ikpeme
Nigeria’s inflation rate recorded a slight decline in February 2026, as the cost of goods and services rose at a slower pace compared with the previous month, according to the latest report released by the National Bureau of Statistics.
The report showed that the country’s headline inflation rate stood at 15.06 per cent in February 2026, dropping slightly from 15.10 per cent recorded in January 2026.
The National Bureau of Statistics explained that this means the overall increase in prices across the economy slowed marginally when compared with the previous month on a year-on-year basis.
However, the report noted that on a month-to-month basis, prices increased faster in February than they did in January.
According to the statistics agency, the headline inflation rate on a month-on-month basis stood at 2.01 per cent in February 2026, compared with –2.88 per cent recorded in January 2026.
This means that while inflation eased slightly on a yearly comparison, the average cost of goods and services rose faster in February compared with the immediate preceding month.
The report also showed that food inflation, which measures the rise in the cost of food items consumed by households, stood at 12.12 per cent on a year-on-year basis in February 2026.
On a month-on-month basis, food inflation was –4.69 per cent in February, compared with –6.02 per cent recorded in January.
The bureau explained that the movement in food prices was influenced by changes in the prices of several commonly consumed items.
These include beans, carrots, okazi leaf, cassava tubers, crayfish, millet flour, yam flour, snails, dried ogbono, and cowpeas.
The report further showed that inflation trends differed between urban and rural areas of the country. In urban centres, the inflation rate on a month-on-month basis stood at 2.55 per cent in February 2026, compared with –2.72 per cent recorded in January, while in rural areas, inflation on a year-on-year basis stood at 13.93 per cent, while the month-on-month rate was 0.71 per cent, compared with –3.29 per cent in January.
The report also showed that inflation levels varied across different states of the federation. On a year-on-year basis, Kogi State recorded the highest inflation rate at 23.57 per cent, followed by Benue State at 22.85 per cent and Anambra State at 22.09 per cent.
In contrast, the slowest rise in headline inflation was recorded in Katsina State at 7.78 per cent, Imo State at 11.66 per cent, and Ebonyi State at 11.71 per cent.
When measured on a month-on-month basis, Enugu State recorded the highest increase at 5.92 per cent, followed by Ogun State at 4.39 per cent and Anambra State at 4.11 per cent.
However, some states recorded a decline in prices during the same period. The largest drop was seen in Zamfara State at –2.14 per cent, followed by Bauchi State at –1.23 per cent and Katsina State at –1.06 per cent.
The report also provided details on food inflation across states. On a year-on-year basis, Kogi State recorded the highest food inflation rate at 26.91 per cent, followed by Adamawa State at 23.12 per cent and Benue State at 21.89 per cent.
Meanwhile, the slowest increase in food inflation was recorded in Katsina State at 5.09 per cent, Bauchi State at 7.09 per cent, and Imo State at 7.65 per cent.
On a month-on-month basis, Bayelsa State recorded the highest food inflation at 8.81 per cent, followed by Ebonyi State at 8.51 per cent and Edo State at 7.72 per cent.
However, some states recorded a decline in food prices during the month. These include Katsina State at –0.70 per cent, Nasarawa State at 0.17 per cent, and Kano State at 1.39 per cent.
The latest data from the National Bureau of Statistics shows that although inflation eased slightly on a yearly basis, price pressures remain uneven across different parts of the country, with food prices continuing to play a major role in the overall cost of living for Nigerian households.
