Nigeria’s inflation rate is expected to fall to 24.48%, while core inflation may drop to 22.59% and food inflation to 26.8%, following the rebasing of the Consumer Price Index (CPI) by the National Bureau of Statistics (NBS).
A source told Daily Trust that the updated CPI, which replaces the 2009 reference period, will be released today. The change aligns inflation calculations with current economic realities, leading to a significant drop in reported inflation figures.
Experts explain that this does not mean prices are decreasing, but rather that inflation is now measured using 2024 as the base year instead of 2009. The NBS has also made improvements to its methodology, ensuring more accurate and reliable inflation data.
