The International Monetary Fund (IMF) has queried the procedure used by the National Bureau of Statistics (NBS) to collate the monthly consumer price index (CPI).
IMF said the data used by the NBS was “severely outdated”, a statement in its report titled ‘Nigeria: 2022 Article IV Consultation’, for the period of January and obtained on Tuesday, reads.
This comes after NBS stated that Nigeria’s inflation rate soared to 21.82 per cent, surpassing the 21.34 per cent the bureau reported for the month of December 2022.
