Nigeria’s inflation rate slowed for a second straight month in November 2025, easing to 14.45 percent, even as consumer prices continued to rise, according to the latest data from the National Bureau of Statistics (NBS) released Monday.
The NBS said the Consumer Price Index climbed to 130.5 in November, up from 128.9 in October, showing that prices are still rising, but at a slower annual pace.
Headline inflation dropped by 1.6 percentage points from 16.05 percent recorded in October, marking a sustained moderation in inflationary pressure after months of sharp increases.
On a Year-on-Year (YoY) basis, inflation was 20.15 percentage points lower than the 34.60 percent recorded in November 2024, reflecting the impact of a different base year and easing price pressures compared to last year.
“The Consumer Price Index (CPI) 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% relative to the October 2025 headline inflation rate of 16.05%.
“On a month-on-month basis, the Headline inflation rate in November 2025 was 1.22%, which was 0.29% higher than the rate recorded in October 2025 (0.93%). 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 report said.
Food and non-alcoholic beverages remained the biggest driver of inflation, contributing the highest share to both yearly and monthly price increases, followed by restaurants, accommodation services and transport.
By contrast, insurance and financial services, recreation, sport and culture, as well as alcoholic beverages and tobacco, recorded the lowest contributions to inflation during the period.
Urban inflation stood at 13.61 percent YoY, sharply lower than the 37.10 percent recorded in November 2024, while month-on-month urban inflation eased to 0.95 percent from 1.14 percent in October.
Rural inflation was higher at 15.15 percent YoY, though still significantly lower than last year’s 32.27 percent, with month-on-month rural inflation rising to 1.88 percent, indicating stronger price pressures in rural areas.
