{"id":151326,"date":"2025-02-18T21:32:43","date_gmt":"2025-02-18T20:32:43","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe"},"modified":"2025-02-20T22:44:52","modified_gmt":"2025-02-20T21:44:52","slug":"reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe","title":{"rendered":"Reasons drop in Nigeria\u2019s inflation doesn\u2019t result in price reduction \u2013 CPPE"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Centre for the Promotion of Private Enterprise, CPPE, has explained that the sharp deceleration of Nigeria\u2019s inflation in January 2025 does not amount to a reduction in the prices of goods and services.<\/p>\n<p>The Chief Executive of CPPE, Muda Yusuf, disclosed this in a statement on Tuesday in response to the Consumer Price Index report released by the National Bureau of Statistics.<\/p>\n<p>The country\u2019s inflation rate dropped significantly to 24.48 per cent in January 2025 from 34.8 per cent in December 2024.<\/p>\n<p>Reacting to the report, CPPE stated that the 10.32 per cent decline in the inflation rate did not come as a surprise, given the revision of the computation base year from 2009 to 2024.<\/p>\n<p>The economic think tank explained that a reduction in inflation simply indicates a slowdown in the rate at which the general price level is rising, rather than an actual decline in prices.<\/p>\n<p>According to CPPE, despite the deceleration of Nigeria\u2019s inflation in January, the reality of high prices remains unchanged.<\/p>\n<p>\u201cHowever, it is important to clarify that a drastic reduction in inflation figures is not tantamount to a reduction in the price level. Inflation reduction simply means a reduction in the rate of increase in the general price level, not a reduction in price. The sharp deceleration in inflation should therefore be cautiously celebrated.<\/p>\n<p>\u201cThe reality of high prices has not changed and remains a major factor in the cost of doing business, the cost of living, and the poverty equation in the country. Households and firms are still concerned about high energy costs, the strength of the naira, high interest rates, the cost of imports, transportation costs, and insecurity. It is hoped that the government will recalibrate its strategies to address these major cost drivers.<\/p>\n<p>\u201cWhat businesses and households desire at this time is a reduction in the general price level from the incredibly high levels of 2024 to a substantial moderation in 2025, a phenomenon technically referred to as disinflation.<\/p>\n<p>\u201cThe good news, however, is that we are beginning to see indications of such reductions in PMS, diesel, some food items, and pharmaceutical products. It is hoped that this trajectory will be sustained throughout the year,\u201d the statement read.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Centre for the Promotion of Private Enterprise, CPPE, has explained that the sharp deceleration of Nigeria\u2019s inflation in January 2025 does not amount to a reduction in the prices of goods and services. The Chief Executive of CPPE, Muda Yusuf, disclosed this in a statement on Tuesday in response to the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":151325,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[10783,365,254],"class_list":["post-151326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cppe","tag-inflation","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Reasons drop in Nigeria\u2019s inflation doesn\u2019t result in price reduction \u2013 CPPE - Nigeria<\/title>\n<meta name=\"description\" content=\"The Centre for the Promotion of Private Enterprise, CPPE, has explained that the sharp deceleration of Nigeria\u2019s inflati ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reasons drop in Nigeria\u2019s inflation doesn\u2019t result in price reduction \u2013 CPPE\" \/>\n<meta property=\"og:description\" content=\"The Centre for the Promotion of Private Enterprise, CPPE, has explained that the sharp deceleration of Nigeria\u2019s inflati ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-18T20:32:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-20T21:44:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1739901978.692262.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"862\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Reasons drop in Nigeria\u2019s inflation doesn\u2019t result in price reduction \u2013 CPPE\",\"datePublished\":\"2025-02-18T20:32:43+00:00\",\"dateModified\":\"2025-02-20T21:44:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\"},\"wordCount\":386,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1739901978.692262.jpg\",\"keywords\":[\"CPPE\",\"inflation\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/reasons-drop-in-nigerias-inflation-doesnt-result-in-price-reduction-cppe\",\"name\":\"Reasons drop in Nigeria\u2019s inflation doesn\u2019t result in price reduction \u2013 CPPE - 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