BusinessAugust 9, 2026

rebasing

ree-BAY-sing

Definition

The technical process of updating the base year or reference period used to calculate a statistical index, such as the Consumer Price Index, to ensure it reflects current economic realities.

Etymology

Formed from the prefix 're-' (again) and the verb 'base,' which comes from the Greek 'basis' (a foundation or pedestal). The term entered modern economic usage to describe resetting a benchmark or foundational value.

In the news

The article discusses how the government updated its Consumer Price Index in 2025, noting that this methodological update was necessary but created confusion when the new data was compared to older statistics.

Why Nigeria’s inflation rate is falling, while poverty rate rises

Read the full article ↗

Tribune Online

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