Abuja: Nigeria’s headline inflation rate decreased to 14.45% in November 2025, according to the National Bureau of Statistics (NBS). This marks a continued decline from the 16.05% rate recorded in October 2025, as detailed in the NBS Consumer Price Index (CPI) and Inflation Report for November 2025.
According to News Agency of Nigeria, the report highlighted a year-on-year comparison showing the headline inflation rate was 20.15 percentage points lower than the previous year’s rate of 34.60% in November 2024. On a month-on-month basis, the headline inflation rate in November was 1.22%, which was 0.29% higher than the rate from October 2025.
The report identified the main contributors to the year-on-year headline inflation as Food and Non-Alcoholic Beverages at 7.78%, Restaurants and Accommodation Services at 1.87%, and Transport at 1.54%. Conversely, Recreation, Sport, and Culture made the smallest contribution at 0.04%, followed by Alcoholic Beverages, Tobacco, and Narcotics at 0.05%, and Insurance and Financial Services at 0.07%.
The food inflation rate in November 2025 stood at 11.08% year-on-year, a significant decrease of 25.85 percentage points from the 39.93% recorded in November 2024. On a month-on-month basis, the food inflation rate increased by 1.5% to 1.13% from -0.37% in October 2025. The NBS attributed this rise to higher prices of items such as Tomatoes (dried), Cassava Tuber, Periwinkle (shelled), and others.
Core inflation, excluding volatile agricultural produce and energy, was recorded at 18.04% year-on-year in November 2025. On a month-on-month basis, it stood at 1.28%, a decrease from the 1.42% rate in October 2025.
Urban inflation in November 2025 was 13.61% year-on-year, a reduction of 23.49 percentage points from 37.10% in November 2024. The month-on-month urban inflation was 0.95%, declining by 0.18% from October 2025. Rural inflation saw a year-on-year decrease to 15.15% from 32.27% in November 2024, while its month-on-month rate rose to 1.88% from 0.45% in October 2025.
The NBS report also provided an analysis of inflation rates across different states. Rivers had the highest year-on-year inflation rate at 17.78%, followed by Ogun and Ekiti. Plateau recorded the lowest at 9.13%. On a month-on-month basis, Bayelsa, Gombe, and Edo had the highest rates, whereas Plateau, Delta, and Kaduna had the slowest rise.
Regarding food inflation, Kogi topped the year-on-year list at 17.83%, while Imo recorded the lowest at 3.52%. On a month-on-month basis, Yobe had the highest rate at 9.52%, with Imo experiencing the slowest rise at -6.49%.
The report concluded that the recent rebasing of the CPI resulted in a rise to 130.5 in November 2025, up from 128.9 in October 2025.