The National Bureau of Statistics (NBS) has said that inflation reduced to 24.48 per cent in January 2025 .
Prince Adeyemi Adeniran, the Statistician of the Federation and the CEO of NBS, made this known in a briefing in Abuja on Tuesday.
Adeniran also said food inflation was 26.08 per cent year-on-year.
According to him, the new figure was as a result of the rebasing of Nigeria’s inflation basket to keep it updated to international standard.
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He recalled that the country last rebased its inflation in 2009, thus using prices of goods prominent during the period.
He said this means the figure is outdated as the new rebasing has dumped some of the products and brought in new ones while maintaining those that are still relevant.