Nigerian Stats. Office Delays January Inflation Report
The National Bureau of Statistics (NBS) is in no hurry to release the inflation figure for January 2025, according to Broadstreet talks with some investment experts. The market stood agog awaiting the release of the inflation figure computed using a rebased consumer price index as planned by the Nigerian authority.
Historically, the Bureau of Statistics has always released its monthly inflation report for the preceding month between 15 and 16th days, a culture it has maintained for several years. The market had anticipated the release of the inflation report, but it appears the need for recalculation of the numbers has triggered a delay, though there is no communication to that effect.
The country’s inflation data is expected to have been delivered to allow market participants and various economic agents to make informed financial and investment decisions and aid projections.
It is a complicated issue to tell Nigerians the country’s headline inflation rate has dropped below 10%, some analysts said jokingly, saying the statistics office has a lot on the table to explain. Nigeria’s inflation rate peaked at 34.80% in Dec, 2024 while the monetary policy tightening has shifted the benchmark interest rate to 27.5%.
The Central Bank of Nigeria (CBN) has also been shifting its first meeting in 2025, which some analysts presume to be as a results of delay in inflation data release.
“The CBN wants inflation data handy before the authority proceed to its bimonthly policy committee meeting….This will set direction for the monetary policy committee voting pattern …else, rate could be tighten if inflation data gets ugly” #Nigerian Stats. Office Delays January Inflation Report 2025 Budget: Osun Govt Targets N109bn IGR
