Nigeria inflation rate eased to 14.45% in November 2025 as CPI rebasing reduced annual price pressures, NBS data shows
Nigeria’s headline inflation rate eased further to 14.45 per cent in November 2025 as consumer price pressures moderated under a new base year, according to the National Bureau of Statistics.
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The National Bureau of Statistics said the Consumer Price Index rose to 130.5 points in November from 128.9 points in October, reflecting a month-on-month increase of 1.22 per cent.
Despite the monthly rise, the agency reported that annual headline inflation declined from 16.05 per cent in October to 14.45 per cent in November.
The NBS attributed the sharp year-on-year slowdown partly to the rebasing of the CPI, with the base year adjusted to 2024 from 2009.
On a year-on-year basis, headline inflation was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024.
Data showed that the average CPI for the twelve months ending November increased by 20.41 per cent, down from 32.77 per cent in the corresponding period of 2024.
Food and non-alcoholic beverages remained the largest contributor to headline inflation, accounting for 5.78 percentage points.
Restaurants and accommodation services followed with 1.87 percentage points, while transport contributed 1.54 percentage points.
Housing, water, electricity, gas and other fuels added 1.22 percentage points, with education and health contributing 0.90 and 0.88 points respectively.
Urban inflation stood at 13.61 per cent year on year, compared with 37.10 per cent in November 2024.
Rural inflation was higher at 15.15 per cent, though still significantly lower than the 32.27 per cent recorded a year earlier.
Food inflation eased sharply on an annual basis to 11.08 per cent from 39.93 per cent in November 2024.
However, month-on-month food inflation rose to 1.13 per cent, driven by higher prices of tomatoes, cassava, eggs, onions and other staples.
Core inflation stood at 18.04 per cent year on year, down from 28.75 per cent in the same period of 2024.
At the state level, Rivers recorded the highest year-on-year inflation rate at 17.78 per cent, followed by Ogun and Ekiti.
Plateau posted the lowest inflation rate at 9.13 per cent, alongside Kebbi and Katsina.
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The NBS cautioned that state comparisons should be interpreted carefully due to differences in consumption patterns and CPI weights.
