The National Bureau of Statistics (NBS) recently adjusted how inflation is measured by rebasing the Consumer Price Index (CPI) to better reflect current spending habits. As a result, Nigeria’s official inflation figures saw a sharp deceleration, with headline inflation falling from 34.80% in December 2024 to 24.48% in January 2025, while food inflation declined from 39.84% to 26.08%. Core inflation also dropped from 28.40% in December 2024 to 22.59% in January 2025.