The National Bureau of Statistics has revealed that although Nigeria’s headline inflation rate decreased to 15.06 percent in February, monthly food inflation increased as a result of rising food commodity prices. The NBS reports that the food inflation rate was 4.69 percent in February 2026, up 10.70 percent from January 2026 (-6.02 percent). It further stated that the average price increases of beans, carrots, okazi leaf, cassava tuber, crayfish, millet flour, yam flour, snails, avenger (ogbono/apon), dried ungrinded, cow peas, etc. are responsible for the rise.However, it stated that overall food inflation is 12.12 percent annually. overlay-clevercloseLogo According to the report, this was 14.86 percentage points lower than the rate of 26.98 percent in February 2025. It also stated that, compared to the preceding twelve-month average, the average annual rate of food inflation for the twelve months ending in February 2026 was 19.08 percent, which was 18.31 percent points lower than the average annual rate of change recorded in February 2025 (37.40 percent). According to the research, the headline inflation rate in February was 0.04 percent lower than the headline inflation rate in January 2026, which was 15.10 percent. Additionally, the headline inflation rate was 11.21 percent lower than the rate in February 2025, which was 26.27 percent.The average annual rate of food inflation for the twelve months ending in February 2026 was 19.08 percent over the previous twelve-month average, which was 18.3 percent compared with the average annual rate of change recorded in February 2025 (37.40 percent). For headline inflation, the report stated that February’s figure decreased by 0.04 percent compared to the January 2026 headline inflation rate of 15.10 percent on a year-over-year basis.
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