Abati Blasts NBS, Says Inflation Report Doesn’t Match Reality

Veteran journalist and former presidential aide Reuben Abati has questioned the credibility of the National Bureau of Statistics’ (NBS) reported decline in inflation.....KINDLY READ THE FULL STORY HERE▶

Speaking on Arise Television’s Morning Show, Abati argued that the reported 15.15% inflation rate was not reflected in market prices and has yet to provide any real relief in the cost of living for Nigerians.

While acknowledging that economists often note a delay between changes in inflation data and their impact on daily living, Abati said the lag has been too long. He emphasized that a genuine sign of improvement would be a noticeable drop in food inflation.

“This reported inflation of 15.15% as of December seems based on creative methodology,” Abati said. “They talk about rebasing, and even the IMF resident representative suggests this new method will eventually benefit Nigerians.

“But so far, we haven’t seen any real effect on the cost of living. Economists say it takes time, but it’s taking too long. Only when food inflation comes down will we believe this CPI is making a difference. That’s why the Manufacturers Association is also concerned.”