National Bureau of Statistics (NBS) has defended its decision to remove historical data from the reuploaded February inflation report, stating that the final outcome was not impacted.
According to Folorunso Alesanmi, acting director of communications and public relations at the NBS, the issue was due to the recent rebasing exercise, which shifted the base year from 2009 to 2024.
Alesanmi explained that the old and new series are “not directly comparable,” making adjustments in data presentation necessary.
“The template erroneously uploaded was not the actual result but more of a worksheet that had no impact on the final outcome,” Alesanmi said.
He also clarified that the inflation figures released for December 2024 remain unchanged, with a year-on-year rate of 34.8 per cent and a month-on-month rate of 2.44 per cent.
Alesanmi noted that the rebased CPI now includes about 500 new products, an updated classification system, and improved compilation techniques.
He said that the NBS would publish both the new and old series to ensure users have access to complete information.
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