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Nigeria’s headline inflation rate moderated marginally to 15.06% in February 2026, down from 15.10% recorded in January 2026.

This is according to the latest data released by the National Bureau of Statistics (NBS).

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.

Food inflation showed significant moderation on a yearly basis but increased sharply month-on-month.

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

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

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

The latest inflation data highlight both progress in annual price stability and persistent short-term pressures.

In December 2025, the Central Bank of Nigeria (CBN) projected that headline inflation will moderate to an average of 12.94% in 2026, driven by easing food prices and a decline in the cost of premium motor spirit (PMS).

The projection is contained in the apex bank’s 2026 Macroeconomic Outlook for Nigeria.