Nigeria’s headline inflation rate declined again in November 2025 as price pressures eased under the newly adopted base year, according to the latest Consumer Price Index data released by the National Bureau of Statistics.
In figures published on its website on Monday, the NBS reported that the Consumer Price Index climbed to 130.5 points in November 2025 from 128.9 points in October, representing a month on month increase of 1.6 points. However, the year on year headline inflation rate dropped to 14.45 percent, down from 16.05 percent in October 2025.
“The Consumer Price Index rose to 130.5 in November 2025, reflecting a 1.6-point increase from the preceding month (128.9).
“In November 2025, the Headline inflation rate eased to 14.45 per cent relative to the October 2025 headline inflation rate of 16.05 per cent.
“Looking at the movement, the November 2025 Headline inflation rate showed a decrease of 1.6 per cent compared to the October 2025 Headline inflation rate,” the NBS report read.
On a month on month basis, headline inflation rose to 1.22 percent in November, compared with 0.93 percent in October, suggesting that average prices still increased more quickly during the month despite the easing in annual inflation.
The statistics agency explained that on a year on year basis, headline inflation in November 2025 was 20.15 percentage points lower than the 34.60 percent recorded in November 2024. This sharp difference was largely attributed to the rebasing exercise, with the base year adjusted to 2024 from 2009.
The report also showed that the average CPI for the twelve months ending November 2025 rose by 20.41 percent compared with the preceding twelve month average, a significant slowdown from the 32.77 percent recorded in November 2024.
Food and non alcoholic beverages remained the biggest contributor to headline inflation on a year on year basis, accounting for 5.78 percentage points. This was followed by restaurants and accommodation services at 1.87 percentage points and transport at 1.54 percentage points.
Housing water electricity gas and other fuels contributed 1.22 percentage points, while education services and health added 0.90 and 0.88 percentage points respectively.
On a month on month basis, food and non alcoholic beverages again led price increases, contributing 0.49 percentage points, followed by restaurants and accommodation services at 0.16 percentage points and transport at 0.13 percentage points.
A regional breakdown showed that urban inflation stood at 13.61 percent year on year in November 2025, representing a sharp fall of 23.49 percentage points from the 37.10 percent recorded in November 2024.
Month on month urban inflation slowed to 0.95 percent from 1.14 percent in October, while the twelve month average urban inflation rate eased to 20.80 percent.
Rural inflation, however, remained higher at 15.15 percent year on year in November, though this was still 17.12 percentage points lower than the 32.27 percent recorded in the same period of 2024.