The nation’s headline inflation rate eased to 15.06% in February 2026, down from the 15.10% recorded in January 2026, a latest report by the National Bureau of Statistics (NBS) has disclosed.
According to the Consumer Price Index (CPI) report for the February 2026, released by the Bureau on Monday, the February 2026 Headline inflation rate showed a decrease of 0.04% compared to the January 2026 Headline inflation rate.
On a year-on-year basis, the Headline inflation rate was 11.21% lower than the rate recorded in February 2025 (26.27%).
This shows that the Headline inflation rate (year-on-year basis) decreased in February 2026 compared to the same month in the preceding year (i.e., February 2025).
The NBS report said a month-on-month basis, the Headline inflation rate in February 2026 was 2.01%, which was 4.89% higher than the rate recorded in January 2026 (-2.88%).
This means that in February 2026, the rate of increase in the average price level was higher than the rate of increase in the average price level in January 2026.
According to the report, the percentage change in the average CPI for the twelve months ending February 2026 over the average for the previous twelve-month period was 21.03%, showing a 3.02% increase compared to 18.01% recorded in February 2025.
URBAN INFLATION
On a year-on-year basis, in February 2026, the Urban inflation rate was 15.53%, representing 12.96% points lower compared to the 28.49% recorded in February 2025.
On a month-on-month basis, the Urban inflation rate was 2.55% in February 2026, up by 5.27% compared to January 2026 (2.72%).
The corresponding twelve-month average for the Urban inflation rate was 21.25% in February 2026. This was 1.81% points higher compared to the 19.44% reported in February 2025.
RURAL INFLATION
The Rural inflation rate in February 2026 was 13.93% on a year-on-year basis. This was 8.80% points lower compared to the 22.73% recorded in February 2025.
On a month-on-month basis, the Rural inflation rate in February 2026 was 0.71%, up by 4.00% compared to January 2026 (-3.29%).
The corresponding twelve-month average for the Rural inflation rate in February 2026 was 20.28%. This was 3.80% points higher compared to the 16.47% recorded in February 2025.
FOOD INFLATION
The Food inflation rate in February 2026 was 12.12% on a year-on-year basis. This was 14.86% points lower compared to the rate recorded in February 2025 (26.98%).
However, on a month-on-month basis, the Food inflation rate in February 2026 was 4.69%, up by 10.70% compared to January 2026 (-6.02%).
The increase can be attributed to the rate of increase in the average prices of Beans, Carrots, Okazi Leaf, Cassava Tuber, Crayfish, Millet Flour, Yam Flour, Snails, Avenger (Ogbono/Apon) – dried ungrinded, cow peas, etc.
The average annual rate of Food inflation for the twelve months ending February 2026 over the previous twelve-month average was 19.08%, which was 18.31% points lower compared with the average annual rate of change recorded in February 2025 (37.40%).
CORE INFLATION
Core inflation, which excludes the prices of vola tile agricultural produces and energy, stood at 15.88% in February 2026 on a year-on-year basis; showing a decline of 9.78% when compared to the 25.66% recorded in February 2025.
On a month on-month basis, the Core Inflation rate was 0.89% in February 2026, up by 2.58% compared to Janu ary 2026 (-1.69%).
The average twelve-month annual inflation rate was 22.00% for the twelve months ending February 2026, which was 5.25% points lower than the 27.25% recorded in February 2025.
