{"id":61485,"date":"2025-02-18T11:21:07","date_gmt":"2025-02-18T11:21:07","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=61485"},"modified":"2025-02-18T11:21:07","modified_gmt":"2025-02-18T11:21:07","slug":"nigerias-inflation-rate-drops-but-cost-of-living-remains-high","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/02\/18\/nigerias-inflation-rate-drops-but-cost-of-living-remains-high\/","title":{"rendered":"Nigeria\u2019s Inflation Rate Drops, But Cost of Living Remains High"},"content":{"rendered":"<p><strong>By Ifeoluwa Odunayo\u00a0<\/strong><\/p>\n<p>Nigeria\u2019s inflation slowed to 24.48% in January 2025, down from 34.80% in December 2024, according to the National Bureau of Statistics (NBS).<\/p>\n<p>The Statistician-General, Adeyemi Adeniran, attributed the decline to a revised inflation calculation method that better reflects consumer spending patterns.<\/p>\n<p>Food prices increased by 26.08% compared to the previous year, a slower pace than the 39.84% rise recorded in December.<\/p>\n<p>Inflation in urban areas stood at 26.09%, while rural areas saw a 22.15% increase.<\/p>\n<p>The cost of non-food essentials, including rent, clothing, and healthcare, rose by 22.59%.<\/p>\n<p>Although prices remain high, they are not rising as rapidly as before. If inflation continues to decline, consumers may experience slight relief in the cost of basic goods.<\/p>\n<p>However, stagnant wages mean many Nigerians may not immediately feel the impact, as purchasing power remains strained despite the slowing inflation rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ifeoluwa Odunayo\u00a0 Nigeria\u2019s inflation slowed to 24.48% in January 2025, down from 34.80% in December 2024, according to the National Bureau of Statistics (NBS). The Statistician-General, Adeyemi Adeniran, attributed the decline to a revised inflation calculation method that better reflects consumer spending patterns. Food prices increased by 26.08% compared to the previous year, a [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":61486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-61485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=61485"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61485\/revisions"}],"predecessor-version":[{"id":61487,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61485\/revisions\/61487"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/61486"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=61485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=61485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=61485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}