The National Bureau of Statistics (NBS) in Nigeria has reported a significant reduction in the inflation rate, which has decreased to 24.48% as of January, which follows a rebasing of the Consumer Price Index (CPI). This adjustment in the reference year for calculating inflation has sparked conversations about its potential impact on the economy and daily life for Nigerians.
In a recent discussion with News Central, our Executive Manager, Dr. Oluwanbepelumi Olanubi, shared her perspectives on how this decrease in the inflation rate might improve food affordability and influence the overall cost of living. The conversation also delved into how the rebasing of the CPI affects the accuracy of inflation reporting, the role of monetary policy in this recent decline, and whether this drop is sustainable considering the ongoing structural challenges.
You can watch the full segment here: https://www.youtube.com/watch?v=RgpD6fBN_90
