The National Bureau of Statistics has announced plans to revise Nigeria’s inflation measurement framework following distortions caused by the rebasing of the Consumer Price Index.
The rebasing reset the reference period to December 2024, leading to an artificial rise in year-on-year inflation figures driven by base effects.
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Methodology adjustment planned
The statistics agency plans to adopt a 12-month reference period for inflation calculation.
Officials stated that the change is technical and does not affect household prices.
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Impact on policy and business decisions
Economists said accurate inflation data supports monetary policy, wage planning and business decisions.
Inflation figures influence interest rates and operating costs.
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Commitment to data quality
The agency said the revision aligns with international standards.
Clear data supports confidence among businesses and investors.
