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Headline inflation fell to 14.45% year on year in November 2025 from 16.05% in October.
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Monthly inflation rose to 1.22%, indicating continued price pressures despite annual moderation.
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The sharp decline year on year reflects the impact of Nigeria’s CPI rebasing to 2024.
Nigeria’s headline inflation rate eased further to 14.45 per cent in November 2025, according to the latest Consumer Price Index report released by the National Bureau of Statistics.
The NBS said the Consumer Price Index rose to 130.5 points in November from 128.9 points in October, representing a month-on-month increase of 1.6 points. Despite this increase, annual inflation slowed from 16.05 per cent recorded in October.
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On a month-on-month basis, headline inflation stood at 1.22 per cent in November, higher than the 0.93 per cent recorded in October. This indicates that average prices continued to rise during the month, even as the annual inflation rate declined.
The statistics agency explained that the sharp year-on-year decline was largely due to the rebasing of the CPI, with the base year updated to 2024 from 2009.
READ ALSO: Nigeria’s Inflation Drops to 16.05% in October, Food Prices Ease
As a result, headline inflation in November 2025 was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024.
Data from the report showed that the average inflation rate for the twelve months ending November 2025 stood at 20.41 per cent, down significantly from 32.77 per cent recorded in the corresponding period of 2024.
Food and non-alcoholic beverages remained the largest 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.
Other contributors included housing, water, electricity, gas and other fuels at 1.22 percentage points, education services at 0.90 percentage points, and health at 0.88 percentage points.
On a month-on-month basis, food and non-alcoholic beverages also
