Nigeria’s headline inflation rate eased further to 14.45 per cent in November 2025, according to a report from the National Bureau of Statistics (NBS). The figure was disclosed in the Consumer Price Index (CPI) and Inflation Report for November, released in Abuja on Monday. The rate represents a decline from 16.05 per cent recorded in October 2025.
On a year-on-year basis, the report said headline inflation was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024. However, month-on-month inflation rose to 1.22 per cent in November from 0.93 per cent in October. “This means that in November 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in October 2025.”
The NBS said food inflation stood at 11.08 per cent year-on-year, down sharply from 39.93 per cent in November 2024, largely due to a change in the base year. “The significant decline in the annual food inflation figure is technically due to the change in the base year.” Core inflation settled at 18.04 per cent, while inflation varied across states, with Rivers recording the highest year-on-year rate.