…The new Nigeria CPI wardrobe (framework) includes indices such as the Urban National Index, Rural National Index, Headline Index, Food Index, Core Index, etc
TUE FEB 18 2025-theGBJournal| Described as a groundbreaking shift that could reshape economic expectations, Nigeria’s inflation numbers have undergone a seismic recalculation following the Consumer Price Index (CPI) rebasing.
The newly adjusted Headline CPI for January 2025 fell to 24.48% year-over-year, marking a significant 10.3% fall from its December 2024 figures.
However, in a dramatic month-on-month plunge, inflation has tumbled from a staggering 34.8% in December 2024 to 24.48% in January 2025, a steep drop that underscores the impact of the updated methodology.
The newly reported figure represents a 2.66% increase from the 21.82% recorded in January 2024, reflecting a shrinking gap.
The new Nigeria CPI wardrobe (framework) includes indices such as the Urban National Index, Rural National Index, Headline Index, Food Index, Core Index, Imported Food Index, Goods Index, Services Index, Energy Index, All Items Less Farm Produce Index, and Farm Produce Index.
According to Comercio Partners Research, ”as Nigeria edges closer to Comercio’s 2025 Outlook projection of inflation easing to 15%-20% by mid-year, this recalibration could be the pivotal moment in the nation’s fight against inflationary pressures.”
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
