 has reported a decline in Nigeria’s inflation rate from 34.8% in December 2024 to 24.48%){kind=link}
The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s inflation rate from 34.8% in December 2024 to 24.48% in January 2025 following the rebasing of the Consumer Price Index (CPI).
In its January CPI report released on Tuesday, the NBS explained that the new inflation figure reflects an adjustment in the methodology used to calculate price movements.
Despite the drop from December, the latest rate still represents a year-on-year increase of 18.12% when compared to 29.9% recorded in January 2024.
The rebasing of the CPI aligns with efforts to improve economic data accuracy, ensuring a more realistic assessment of inflation trends.
Experts believe this adjustment could influence monetary policy decisions, impacting interest rates and economic planning.
With inflation remaining a major concern, analysts say the government must implement further measures to stabilize prices and reduce the cost of living for Nigerians.