Analysts at Coronation Research are projecting the inflation rate for February 2026 to moderate by 0.98 per cent to 14.12 per cent from the 15.10 per cent recorded in the preceding month.
The National Bureau of Statistics (NBS) is expected to release the inflation numbers today, Monday, March 16, 2026.
In a note released over the weekend, Coronation Research disclosed that the fall in the average prices of goods and services for last month would be impacted by a decline in the prices of food items.
“Our projection is supported by favourable base effects, easing food price pressures, and slight appreciation of the Naira,” a part of the report sighted by Business Post read.
The organisation revealed that the ongoing government interventions in the agricultural sector to improve food supply conditions are beginning to ease pressures within the food component of the consumer basket.
It further stated that “appreciation of the Naira to N1,363.40/1$ from N1,386.55/1$ in January is expected to reduce the cost of imported food items.”
However, it stressed that the ongoing US/Israel-Iran war was capable of reversing the deflationary trends because of the rising global energy prices.
“Also, the $200 million financing approved by the African Development Bank (AfDB) Group to scale up priority agricultural investments is expected to be disbursed in March, but its impact is likely to materialise in the medium to long term, with limited immediate effects on food supply and prices,” it said.
Coronation Research also disclosed that the recent energy market developments could keep core inflation sticky in the near term, as average Bonny Light crude oil prices rose to $72.33 per barrel in February 2026 from $68.04 per barrel in January.