The National Bureau of Statistics has revealed that Nigeria’s inflation dropped to 24.48 per cent in January 2025.

According to the Statistician General, Prince Adeyemi Adeniran, the drop followed the rebasing of the consumer price index.

Speaking on Tuesday in Abuja at the launch of the rebased CPI report. Adeniran said the new rate marks a decrease from December 2024's 34.80 per cent.

The statistician also noted that the food inflation was 26.08 per cent year on year for January 2025.l, marking a decrease from the 39.84 per cent recorded in the previous month.

According to Adeniran, the rebased CPI reflects the current inflationary pressures in the country.

He said core inflation, excluding volatile agricultural and energy prices, dropped to 22.59 per cent from 29.28 per cent in the previous month, adding that urban inflation also declined to 26.09 per cent while rural inflation decreased to 22.15 per cent.

The statistician said stressed that while inflation appears lower, this decline is largely due to the shift in the base year and the updated inflation basket, rather than a reduction in overall price levels.

ASA