Back to today’s briefing

Story perspectives

Nigeria's Inflation Plummets to 24.48%: Economic Hope Emerges

2/18/2025

35 4

Summary

Story summary

Nigeria's inflation rate has taken a significant dip, dropping to 24.48% in January 2025 from a staggering 34.80% in December 2024. This shift follows a rebasing of the Consumer Price Index, revealing urban inflation at 26.09% and rural at 22.15%, with food inflation also easing to 26.08%. A hopeful sign for the economy!

History

Historical Context

Nigeria's inflation rate dropped to 24.48% in January 2025, following a significant rebasing of the Consumer Price Index. This mirrors the 2014 GDP rebasing, which also aimed to reflect economic realities, highlighting Nigeria's ongoing struggle to stabilize its economy amid oil dependency and external shocks.

1 of 2

Story summary

Nigeria's inflation rate has taken a significant dip, dropping to 24.48% in January 2025 from a staggering 34.80% in December 2024. This shift follows a rebasing of the Consumer Price Index, revealing urban inflation at 26.09% and rural at 22.15%, with food inflation also easing to 26.08%. A hopeful sign for the economy!

1 / 2