JUST IN: Nigeria’s Inflation Rate Drops to 24.48%

Nigeria’s headline inflation rate has dropped to 24.48% in January 2025, down from 34.80% in December 2024.

The National Bureau of Statistics (NBS) announced this on Tuesday, stating that the Consumer Price Index (CPI) has declined to 24.48% year-on-year in January.

The Statistician-General of the Federation, Adeyemi Adeniran, explained that the rebased CPI reflects the current inflationary pressure and consumption pattern of people living in the country.

According to Adeniran, urban inflation stood at 26.09% while rural inflation was at 22.15%.

The rebased food inflation rate also decreased to 26.08% year-on-year in January.

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