Nigeria’s Food Inflation Drops Sharply to 23.51% in February 2025 – What It Means for You

In a major shift, Nigeria’s food inflation rate slowed to 23.51% in February 2025, a significant drop from the 37.92% recorded in February 2024, according to the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS).

This decline marks a notable reduction in food price increases over the past year, offering some relief to consumers. However, despite this improvement, food prices are still rising—just at a slower pace than before.

Why the Drop?

The NBS attributes this sharp decline partly to a change in the base year for measurement—a technical adjustment that affects how inflation is calculated.

On a month-on-month basis, food inflation stood at 1.67% in February, indicating that while prices are still climbing, the rate of increase is slowing compared to January 2025.

Which Food Items Became Cheaper?

The report highlights that several staple food items recorded lower price increases in February, including:

✅ Yam tubers

✅ Potatoes

✅ Soybeans

✅ Maize flour

✅ Cassava

✅ Dried Bambara beans

What This Means for You

✔️ Better affordability – The declining inflation rate suggests that food prices may stabilize, making groceries slightly more affordable.

✔️ Economic relief – While the cost of living remains high, a slower inflation rate may ease pressure on household budgets.

✔️ Policy impact – The government’s economic policies and agricultural interventions could be playing a role in stabilizing food prices.

Looking Ahead

Despite the decline in year-on-year inflation, experts warn that food prices remain a challenge, and further economic policies will be needed to sustain the momentum.

Do you think food prices are actually getting better in your area? Share your thoughts!

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