Nigeria's annual inflation rate stood at 24.48% in January, the statistics agency said on Tuesday, well down from the previous month's figure after the country's price index was rebased for the first time in more than a decade.

Nigeria’s inflation rate dropped massively to 24.48 percent in January 2024 from 34.80 percent in December last year after the rebased Consumer Price Index. The Statistician General, Prince Adeyemi Adeniran,

ABUJA (Reuters) -Nigerian inflation was at 24.48% in annual terms in January, the statistics agency said on Tuesday, a sharply lower figure than the last release after a rebasing exercise to reflect changes in consumption patterns.