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Nigeria’s inflation rate has dropped significantly to 24.48% year-on-year in January 2025, down from 34.80% in December.
This decline, reported by the National Bureau of Statistics, follows the rebasing of the Consumer Price Index (CPI), which reflects updated consumption patterns.
Urban inflation stands at 26.09%, while rural inflation is 22.15%.
Food inflation has also dropped to 26.08%, a decrease from the previous 39.84%.
The Central Bank of Nigeria continues efforts to stabilize prices and boost economic growth. Governor Yemi Cardoso emphasizes the need for coordination between fiscal and monetary policies to ease economic challenges.
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