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The Business NG - February 19, 2025

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In this issue

Nigeria’s Inflation Drops to 24.48% After CPI Rebasing

The National Bureau of Statistics (NBS) has announced a sharp decline in Nigeria’s inflation rate, dropping from 34.8% in December 2024 to 24.48% in January 2025. This significant decrease follows the rebasing of the Consumer Price Index (CPI), a move the agency says was necessary to capture structural changes in the economy.

NBS Chief Executive Officer Adeyemi Adeniran explained that the rebasing, which now uses 2019 as the base year, resulted in lower inflation figures across key categories. Food inflation fell to 26.08% from 39.84%, while core inflation—excluding farm produce and energy—declined from 29.28% to 22.59%. Urban inflation dropped from 37.29% to 26.09%, while rural inflation also saw a decrease.

The rebasing aims to provide a more accurate measure of inflation and economic trends, reflecting changes in consumer spending patterns and economic dynamics.

The Business NG Description:

Publisher: Tuns-Media-&-Comm-Enterprise

Category: Newspaper

Language: English

Frequency: Weekly

The BusinessNG, a leading business news publication across Nigeria and WestAfrica With a strong team of 30 staff members and a weekly print circulation of over 10,000 copies, we are poised for growth and report all political relating to business news at all level