‎The National Bureau of Statistics (NBS) has said it will publish two separate inflation figures for December.
‎According to a report, the development followed changes to its consumer price index (CPI) methodology, which caused the headline rate to more than double.
‎The inflation data are closely monitored by the Central Bank of Nigeria (CBN) as it moves toward an inflation-targeting monetary policy framework.
‎The apex bank is targeting a slowdown in inflation to around 13% by next year, despite current price pressures and statistical adjustments.
‎The recent rebasing of Nigeria’s CPI, which introduced methodological adjustments, significantly distorted the December inflation reading.
‎However, citing sources within the bureau, the inflation data, scheduled for release on the 15th of January 15, are projected to show an artificially spiked inflation rate of 31.2% for December, compared with 14.5% recorded in November.
‎The Statistician-General of the Federation, Prince Adeyemi Adeniran, said the agency will take the unusual step of publishing both inflation figures to ensure transparency.
Edited by Favour Owonibi.