Nigeria’s Inflation Slows After Data Rebase, Easing Rate Hike Pressure

• Annual inflation drops to 24.48% in January from 34.80% in December following recalculation
• Food inflation eases as naira stabilises, prompting speculation on rate policy shift

Abuja, Nigeria – Nigeria’s annual inflation slowed in January to 24.48% from 34.80% the previous month after the National Bureau of Statistics (NBS) implemented changes to the calculation of the country’s composite price index.