The National Bureau of Statistics (NBS) has announced the inclusion of three new indices in its monthly Consumer Price Index (CPI) starting this January.
This update was shared during a workshop in Lagos, organized by the NBS in collaboration with the Nigerian Economic Summit Group (NESG).
The new additions to the CPI will focus on specific sectors. A services index will track price changes in sectors like education and transport.
Additionally, the energy index will monitor fluctuations in energy costs, while a farm produce index will highlight the price movements of agricultural goods.
These new metrics aim to provide a clearer picture of price trends in these key areas.
This update is part of the broader rebasing of the CPI to reflect the current state of the economy, with the new base year being 2024.
