Nigeria’s headline inflation rate eased in November 2025 as pressures on consumer prices moderated under the newly adjusted base year, according to the latest Consumer Price Index report released by the National Bureau of Statistics.
Okay News reports that the NBS indicated the Consumer Price Index rose to 130.5 points in November from 128.9 points in October, reflecting a 1.6-point increase month on month. Despite the rise, the headline inflation rate fell to 14.45 per cent year on year, down from 16.05 per cent 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 October 2025,” the report read.
On a month-on-month basis, inflation stood at 1.22 per cent in November, higher than October’s 0.93 per cent, showing that prices continued to rise moderately despite the annual slowdown.
The NBS noted that the decline compared with November 2024, when headline inflation was 34.60 per cent, largely reflected the effect of rebasing the Consumer Price Index with the new base year set at 2024 instead of 2009. The average Consumer Price Index for the twelve months ending November 2025 increased by 20.41 per cent, down from 32.77 per cent in the same period of 2024.
Food and non-alcoholic beverages remained the largest contributors to annual inflation at 5.78 percentage points, followed by restaurants and accommodation services at 1.87 points and transport at 1.54 points. Housing, water, electricity, gas, and other fuels added 1.22 points, while education and health services contributed 0.90 and 0.88 points, respectively.
Urban areas recorded an inflation rate of 13.61 per cent year on year, down sharply from 37.10 per cent in November 2024. Rural inflation was higher at 15.15 per cent but still fell from 32.27 per cent the previous year. Month-on-month, urban prices increased by 0.95 per cent while rural prices rose by 1.88 per cent.
Food inflation slowed to 11.08 per cent from 39.93 per cent in November 2024, though month-on-month food prices rose 1.13 per cent due to higher costs for items such as dried tomatoes, cassava tubers, eggs, and fresh onions. Core inflation, which excludes agricultural and energy items, stood at 18.04 per cent year on year and 1.28 per cent month-on-month.
At the state level, Rivers led with the highest annual inflation at 17.78 per cent, followed by Ogun at 17.65 per cent and Ekiti at 16.77 per cent. Plateau recorded the lowest at 9.13 per cent. Month-on-month, Bayelsa experienced the sharpest increase at 6.58 per cent.
