The January figures mark one of the steepest declines in recent years, particularly in food inflation.
The report said in May, the rural inflation rate was 22.70 per cent on a year-on-year basis.
The CPI would reveal the many countries most in need of climate finance.
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says NBS amid President Bola Tinubu’s harsh economic policies.
According to the bureau, food prices soared by 2.72 per cent, a 0.30 per cent increase from the rate recorded in November.
According to the report, the figure of 1.72 per cent is higher than the 24.08 per cent recorded in July 2023.
The rise in the food index resulted from increased prices for bread and cereals, tubers, meat, fruits, vegetables, fish, oils, and fats.
Nigeria’s ratings plunged to 149 on a categorised scale for “highly corrupt” countries — three places down from its 146th position in 2019.
