By Emeka Anaeto, Economy Editor
Ahead of the expected release of February, 2015 inflation statistics by The National Bureau of Statistics, NBS, today, economy analysts have posited a further upswing in the statistics as a result of persistent pressure on the Headline Index arising from the tension in the external sector as well as the political environment.

NBS is expected to release the inflation rate figure for the month of February 2015 today, based on the Data Release Calendar available on the Bureau’s website.

According to the research report of FSDH Securities, a leading investment banking outfit in Nigeria, the dynamics of price movements in consumer goods in February 2015 would increase the Consumer Price Index to 166.84 points, representing a month-on-month increase of 0.63%.

The investment bankers estimate that the increase in the CPI in February will produce an inflation rate (year-on-year) of 8.3%, higher than the figure recorded in the month of January.

Looking ahead, therefore, FSDH concluded, the inflation rate for the month of March 2015 is expected to be higher than the February 2015.

The latest inflation rate for the month of January 2015 was 8.2%, higher than 8.0% recorded in the month of December 2014.

Last month NBS reporting for the period of January 2015 said that the monthly Composite Consumer Price Index, CCPI, for All Items for the month of January stood at 165.8 points, an increase of 0.8% from December 2014. The CCPI 12-month average for January 2015 stood at 8.1%, up from 8.0% in December 2014.

The NBS noted that the increase in the inflation rate in January 2015 was due to the upward pressure on the Headline Index, which was largely as a result of increasing divisions that contribute to the Core Sub-Index.

Prices increased at a faster pace in most of the major non-food divisions such as housing, water, electricity, gas and other fuels; furnishings; household equipment maintenance; and clothing and footwear divisions.

Food prices measured by the Food Sub-Index held at roughly the same pace of increase in January 2015 as in December 2014.