The International Monetary Fund say it welcomes the December Consumer Price Index (CPI) inflation figures released by the Nigerian Bureau of Statistics (NBS), which show an easing of inflation.
Laraba Bonet, Office Manager, Resident Representation of Nigeria in a statement on behelf of Christian Ebeke, the Fund’s representative for Nigeria noted that if sustained, the inflation decline will help reduce cost-of-living pressures and support macroeconomic stability.
“The release reflects a welcome change in methodology that aligns Nigeria’s CPI calculation with international best practices, as set out by ECOWAS and the IMF’s 2020 CPI Manual. Under the new methodology, the NBS links the old CPI to the rebased and reweighted index using the full year of 2024 as the reference period, making the data more stable and comparable over time. This change leads to a revision of the 2025 inflation numbers but continues to show a trend of inflation coming down throughout the year.”
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