Nigeria’s health inflation rate slowed to 17.50% in February 2025, reflecting a moderation in the pace of price increases for medical goods and services.
This marks a significant decline from the 25.02% recorded in February 2024, representing a 30.08% drop in annual health inflation, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
Healthcare costs remain on the rise
Despite the decline in the inflation rate, healthcare costs continue to rise, as reflected in the health index, which climbed to 111.1 in February 2025, up from 94.6 in February 2024 and 75.6 in February 2023.
On a month-on-month basis, health inflation increased slightly by 0.12% in February 2025, compared to January. The health index rose from 109.4 in January to 111.1 in February, signaling ongoing price increases, albeit at a slower pace.
Implications for consumers
The sustained rise in the health index suggests that while inflationary pressures are easing, the cost of healthcare services, pharmaceuticals, and medical products continues to climb. This could impact affordability, particularly for lower-income households, as essential medical care remains expensive.
Experts suggest that while the slowdown in inflation is a positive trend, more policy measures may be needed to address the underlying factors driving high healthcare costs in the country.
