Nigeria _ Nigeria’s headline inflation rate dropped to 24.48% in January 2025, down from 34.80% in December 2024, according to the National Bureau of Statistics (NBS).
The Statistician-General, Prince Adeyemi Adeniran, attributed the decline to the rebased Consumer Price Index (CPI), which provides a more accurate reflection of current inflationary pressures and consumption patterns. The rebased CPI shows a decline in food inflation to 26.08% year-on-year in January, with urban inflation at 26.09% and rural inflation at 22.15%. This significant drop marks a positive shift in Nigeria’s economic landscape, offering hope for economic stability.
By Taiwo olatinwo/ February 18, 2025
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