Nigeria’s inflation eases to 14.45% in November — NBS
Story by Martha Gwary
Nigeria’s headline inflation rate declined to 14.45 per cent in November 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The figure represents a notable moderation from the 16.05 per cent recorded in October 2025, reflecting a month-on-month decline of 1.6 percentage points.
On a year-on-year basis, the NBS said headline inflation was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024. The agency noted that the comparison reflects the effect of a different base year, with November 2009 set at 100.
However, on a month-on-month basis, headline inflation rose to 1.22 per cent in November 2025, up from 0.93 per cent in October. This indicates that the average price level increased at a faster pace in November than in the preceding month.
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The report also showed a sharp decline in food inflation on an annual basis. Food inflation stood at 11.08 per cent year-on-year in November 2025, representing a drop of 28.85 percentage points from the 39.93 per cent recorded in November 2024. The NBS attributed the significant reduction largely to the rebasing of the CPI.
Conversely, food inflation on a month-on-month basis rose to 1.13 per cent in November, compared with a decline of 0.37 per cent in October 2025. The increase was driven by higher average prices of key food items, including dried tomatoes, cassava tubers, shelled periwinkle, ground pepper, eggs, crayfish, unshelled melon (egusi), oxtail and fresh onions.
According to the NBS, the average annual food inflation rate for the 12 months ending November 2025 stood at 19.68 per cent, which was 18.99 percentage points lower than the 38.67 per cent recorded in November 2024.
The bureau reiterated that recent inflation trends should be interpreted with caution due to the impact of the revised base year on annual comparisons.
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