Nigeria’s inflation rate declined marginally to 15.06 percent in February, down from 15.1 percent recorded in January, according to the latest figures released by the National Bureau of Statistics.
The data was contained in the February Consumer Price Index report published by the agency on Monday. The report provides the most recent assessment of price movements and inflation trends across the country.
According to the statistics agency, the slight drop reflects a modest easing in the pace at which consumer prices are rising compared with the previous month. The change signals a small but notable shift in Nigeria’s headline inflation rate.
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The Consumer Price Index measures the average change over time in the prices paid by consumers for goods and services, making it a key indicator used by policymakers and economists to track inflationary pressure in the economy.
Further details from the CPI report are expected to shed more light on the sectors and components that contributed to the marginal decline in February’s inflation figure.
