Nigeria’s new inflation figures fall to 24.48%, after rebasing exercise
- Nigeria's headline inflation dropped to 24.48% from 34.80% after a rebasing exercise.
- The rebasing updated the basket of goods from 740 to 960 items.
- Food inflation decreased to 26.08% from 39.84% following the rebasing.
While the drop in inflation figures may seem positive, the concerns regarding data integrity and the actual impact on consumers highlight the complexities of economic indicators. It is crucial to ensure that the rebasing does not mislead stakeholders and that the measures taken by the Central Bank effectively translate into real benefits for the populace.
