January 16, (THEWILL) — The International Monetary Fund (IMF) has backed Nigeria’s latest inflation data following a major revision of the Consumer Price Index (CPI) methodology by the National Bureau of Statistics (NBS), saying the changes enhance data credibility and signal easing price pressures.
Nigeria’s headline inflation rate slowed to 15.15% in December 2025, from 17.33% in November, after the NBS rebased the CPI to 2024 as the new base year and adopted a 12-month average reference period for year-on-year comparisons. The IMF said the adjustment aligns Nigeria’s inflation measurement with international best practices and reduces distortions caused by base effects.
“We welcome the December CPI inflation figures released by the NBS, which show an easing of inflation that, if sustained, will help reduce cost-of-living pressures and support macroeconomic stability”, the IMF said.
Under the revised framework, the CPI index rose slightly to 131.2 points in December from 130.5 in November, indicating that prices are still increasing, but at a slower pace. Food inflation, a major driver of household costs, also moderated to 10.84%, according to NBS data.
Despite the improvement, analysts note that inflation remains elevated on an annual average basis, underscoring the need for sustained policy discipline to entrench disinflation and protect purchasing power.
Ogochukwu Onwaeze
