Food Inflation Snaps Six-Month Decline, Climbs to 12.12% in February Amid Rising Staple Prices

 

Nigeria's food inflation rate has reversed a six-month downward trend, rising sharply to 12.12% year-on-year in February 2026, up from 8.89% in January, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).

The increase marks the end of a brief period of single-digit food inflation — the first in over a decade — which had offered temporary relief to households following post-harvest supply improvements and earlier disinflation efforts. February's figure remains significantly lower than the 26.98% recorded in February 2025, reflecting a year-on-year moderation of 14.86 percentage points.

On a month-on-month basis, food inflation accelerated to 4.69% in February, a stark contrast to the -6.02% deflation (price drop) seen in January. This monthly surge was attributed to heightened demand for certain staples during the early days of Ramadan, alongside upward pressure from key items such as beans, yam flour, cassava tuber, crayfish, and other essentials.

The NBS highlighted that these price hikes in specific food categories drove the overall rebound in the food sub-index, which weighs heavily in Nigeria's inflation basket (accounting for roughly half of headline inflation).

Meanwhile, headline inflation eased marginally to 15.06% in February from 15.10% in January, continuing a broad disinflation trend observed over recent months. However, the uptick in food prices underscores persistent vulnerabilities in the agricultural sector, including supply chain issues, seasonal demand spikes, and lingering effects of higher input costs.

Analysts note that while the year-on-year food inflation remains well below last year's levels, the resumption of upward momentum could signal challenges ahead, particularly if global commodity pressures or domestic factors like transportation costs intensify.

The development comes as Nigerians continue to grapple with cost-of-living pressures, even as broader economic indicators show signs of stabilization.

This data is based on the official NBS CPI release for February 2026. Further details on regional variations show states like Kogi, Benue, and Anambra recording some of the highest food inflation rates, while Katsina, Imo, and Ebonyi saw relatively lower pressures.