Nigeria’s headline inflation rate eased to 14.45 percent in November 2025, down from 16.05 percent recorded in October, according to the National Bureau of Statistics. The agency said the figure represents a decline of 1.6 percentage points month on month.
The NBS said food inflation moderated to 11.08 percent year on year in November, compared with 13.12 percent in October, although food prices rose by 1.13 percent on a month on month basis. Food and non alcoholic beverages remained the largest contributor to headline inflation.
Urban inflation stood at 13.61 percent year on year in November, down sharply from 37.10 percent in the same period last year, while rural inflation was higher at 15.15 percent, though still lower than levels recorded in 2024. Core inflation, which excludes food and energy, declined to 18.04 percent year on year.
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The Central Bank of Nigeria has welcomed the continued slowdown in inflation but says price levels remain high. Governor Olayemi Cardoso said the bank is maintaining its monetary policy stance to sustain progress towards low and stable inflation.
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