NBS to Release Two December Inflation Figures After CPI Rebase in Nigeria

The National Bureau of Statistics (NBS) in Nigeria will publish two separate inflation figures for December following changes in the Consumer Price Index (CPI) methodology. This adjustment is expected to result in the headline inflation rate doubling.

The move comes after the recent rebasing of Nigeria's CPI to address significant distortions in the inflation data. The inflation figures are scheduled for release on January 15, with projections indicating a rate of 31.2% for December.

The Statistician General, Feder Prince Adeyemi Adeniran, emphasized the need for transparency and ensuring that the figures reflect the economic fundamentals accurately. Ayo Andrew, the Head of Price Statistics at NBS, highlighted the importance of the methodology changes in addressing distortions seen in the December 2024 figures.