Federal finance and statistics / National Bureau of Statistics

CPI and Inflation Report February 2024

Executive Summary In February 2024, the headline inflation rate increased to 31.70% relative to the January 2024 headline inflation rate which was 29.90%. Looking at the movement, the February 2024 headline inflation rate showed an increase of 1.80% points when compared to the January 2024 headline inflation rate. On a year-on-year basis, the headline inflation rate was 9.79% points higher compared to the rate recorded in February 2023, which was 21.91%. This shows that the headline inflation rate (year-on-year basis) increased in the month of February 2024 when compared to the same month in t…