The National Bureau of Statistics (NBS) announced that Nigeria’s headline inflation rate fell to 24.48% in January 2025 from 34.8% in December 2024 following the rebasing of the Consumer Price Index (CPI).
The update reflects a new price reference period (2024) and weight reference period (2023).
Food inflation also declined, dropping from 39.84% in December 2024 to 26.08% in January 2025. The rebasing aims to align inflation estimates with current economic realities and consumption patterns.
The NBS emphasized that the revised CPI provides better insights for government, businesses, and households in decision-making regarding price changes.
