Nigeria’s National Bureau of Statistics (NBS) has announced changes to its inflation reporting methodology after last year’s rebasing created an artificial spike in December data. Analysts had projected December’s year-on-year inflation to hit 30 percent, but the NBS clarified that this figure is not an official rate.

The rebasing, the first in 15 years, used December 2024 as the index reference point, which officials say distorted the December 2025 inflation data without reflecting actual price movements. Consumer inflation had peaked near 35 percent in December 2024 but fell sharply after the statistics office updated its base year and food prices decelerated.

Ayo Anthony, Head of Prices at NBS, explained that the spike was a “base effect” and that the agency would replace the single-month reference with a 12-month 2024 reference period to capture actual inflation trends.

Anthony noted that while countries like South Africa and Kenya use a one-month base, Nigeria’s sharp price increases make this method unsuitable. Bonaventure Nwosu, Head of Communications at NBS, emphasized that the December spike should be seen as a one-off effect, and figures from January 2026 onwards will better reflect real market conditions.

The bureau said the revised methodology will give a clearer picture of inflationary pressures, providing more accurate insights into the economy of Africa’s most populous nation.