Nigeria’s headline inflation rate has slowed down to 14.45% in November 2025, according to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS).
This represents a decline of 1.6 percentage points from the 16.05% recorded in October 2025.
The Consumer Price Index rose to 130.5 points in November 2025, reflecting a 1.6-point increase month-on-month.
Despite this increase, the headline inflation rate is 20.15 percentage points lower than the 34.60% recorded in November 2024, largely due to the effect of the rebasing exercise with the new base year set at 2024 instead of 2009.
In the report published on its website on Monday, NBS said food and non-alcoholic beverages remained the largest contributor to headline inflation, accounting for 5.78 percentage points, followed by restaurants and accommodation services at 1.87 percentage points and transport at 1.54 percentage points.
On a month-on-month basis, food and non-alcoholic beverages also drove 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.
Urban inflation stood at 13.61% year-on-year in November 2025, representing a steep decline of 23.49 percentage points from the 37.10% recorded in November 2024.
In contrast, rural inflation was higher at 15.15% year-on-year in November, although this was still 17.12 percentage points lower than the 32.27% recorded in the corresponding period of 2024.
The NBS cautioned that interstate comparisons should be interpreted carefully, noting that CPI weights vary across states based on consumption patterns, which can make direct comparisons of inflation baskets misleading.
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