Inflation eases slightly to 15.06% in February 2026, says NBS

National Bureau of Statistics (NBS) has disclosed that. Nigeria’s headline inflation rate moderated marginally to 15.06per cent in February 2026, down from 15.10per cent recorded in January 2026.

The report shows that while annual inflation eased slightly, monthly price pressures strengthened during the period.

The Consumer Price Index (CPI), which measures changes in the average price level of goods and services, rose to 130.0 in February 2026, up from 127.4 in January 2026.

The NBS data indicate mixed inflation trends across annual and monthly measurements.

Headline inflation declined marginally on a year-on-year basis but accelerated on a month-on-month basis. Headline inflation stood at 2.01per cent month-on-month in February 2026.

This represents a sharp increase compared to -2.88per cent recorded in January 2026.

Urban inflation was 15.53per cent year-on-year, down from 28.49per cent in February 2025.

Rural inflation stood at 13.93per cent year-on-year, compared to 22.73per cent in February 2025.

On a monthly basis, inflation pressures rose in both urban and rural areas.

Urban inflation increased to 2.55per cent month-on-month, compared to -2.72per cent in January 2026.

Rural inflation rose to 0.71per cent month-on-month, from -3.29per cent in January 2026.

According to the NBS reporrt,  Food inflation showed significant moderation on a yearly basis but increased sharply month-on-month.

Food inflation stood at 12.12per cent year-on-year, down from 26.98per cent in February 2025.

However, month-on-month food inflation rose to 4.69%, reversing the -6.02per cent recorded in January 2026.

The increase was driven by rising prices of items such as beans, carrots, okazi leaf, cassava tuber, crayfish, millet flour, yam flour, snails, ogbono (dried and unground), and cow peas.

The average annual food inflation rate for the twelve months ending February 2026 was 19.08per cent, compared to 37.40per cent in February 2025.

Core inflation, which excludes volatile agricultural produce and energy prices, also showed a similar trend.

Core inflation stood at 15.88% year-on-year, down from 25.66per cent in February 2025.

On a month-on-month basis, core inflation rose to 0.89per cent, compared to -1.69per cent in January 2026.

The twelve-month average core inflation rate was 22.00per cent, lower than 27.25per cent recorded in February 2025.