Nigeria recently rebased its consumer price index (CPI) from 2009 to 2024, leading to a significant drop in the reported inflation rate from 34.80% to 24.48%.
This change has sparked discussions on the likely impact on economic planning, policy decisions, and public perception of inflation. Taiwo Odugbemi, an economist, unpacks what it means for a country to rebase its inflation rate and its implications for citizens.
