Fresh economic data indicate a renewed surge in inflationary pressure in Nigeria, with the Consumer Price Index (CPI)—a key measure of changes in the average price level of goods and services—rising sharply in February 2026.
According to the latest figures, the CPI increased to 130.0 in February from 127.4 recorded in January, representing a 2.6-point jump within a single month. The rise signals that the overall cost of living continues to climb across the country.
On a month-on-month basis, inflation accelerated significantly. The headline inflation rate stood at 2.01 percent in February 2026, a dramatic increase of 4.89 percentage points compared with the negative rate of –2.88 percent recorded in January 2026.
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Economists say the sharp turnaround from a deflationary reading in January to positive inflation in February suggests renewed price pressures across major consumption categories, including food, transportation, and energy.
The development is expected to heighten concerns among households and businesses already grappling with high living costs and currency volatility.
Analysts warn that sustained increases in consumer prices could further erode purchasing power and complicate monetary policy decisions.
More details on the drivers of the inflation surge and sector-specific impacts are expected to be released in subsequent data breakdowns.