By Yinka Kolawole
THE Lagos Chamber of Commerce and Industry, LCCI, has supported the revised Consumer Price Index (CPI) methodology used by the National Bureau of Statistics (NBS) in the computation of the December 2025 inflation indicating a slowdown in inflationary momentum.
NBS reported that year-on-year headline inflation stood at 15.15% relative to the November 2025 headline inflation rate (17.33%).
This reflects an extension of the disinflation trend recorded over the past 12 months, from 34.80% recorded in December 2024.
In a statement yesterday, Director General of LCCI, Dr Chinyere Almona, said: “The revised CPI methodology is technically sound, statistically credible, and fully aligned with international best practices.
“The revision reflects a legitimate correction of base-year distortions following the CPI rebasing exercise and does not constitute any manipulation of inflation outcomes.
‘By adopting a twelve-month average for 2024 as the base year (2024 = 100), rather than a single-month reference, NBS prudently avoided artificial inflation spikes that often occur after long gaps between base years, particularly relevant given Nigeria’s 15-year shift from the 2009 base.
“This approach strengthens analytical accuracy, preserves policy relevance, and enhances the credibility of inflation measurement. NBS’s clear communication and distinction between statistical base effects and underlying economic conditions also helped reinforce transparency and public confidence.
“Beyond methodology, the December 2025 inflation figures indicate a clear slowdown in inflationary momentum. Headline inflation fell from 34.80% in December 2024 to 15.15% in December 2025, while month-on-month inflation more than halved. This confirms a transition from rapid inflation to gradual disinflation, not an abrupt price reversal.”
Almona however called for cautious optimism.
“The sharp decline in food inflation, driven by falling prices of key staples such as grains, vegetables, garri, beans, and tomatoes, represents the most meaningful relief for households and reflects improving supply conditions. “Nonetheless, inflation remains structurally elevated, with twelve-month average headline inflation at 23.01% and core inflation at 23.49%, underscoring the lingering effects of past price shocks,” she added.
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