BREAKING: Nigeria’s inflation rate drops to 14.45% in Nov 2025, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s headline inflation rate eased by 160basis points to 14.45per cent in November 2025 from 16.05 per cent October 2025.
NBS in its report stated that the November 2025 inflation rate showed a decrease of 1.6 per cent compared to the October 2025 inflation rate.
The report disclosed that, “On a year-on-year basis, the inflation rate was 20.15per cent lower than the rate recorded in November 2024 (34.60per cent).
“This shows that the inflation rate (year-on-year basis) decreased in November 2025 compared to the same month in the preceding year (i.e., November 2024), though with a different base year, November 2009 = 100.
“On a month-on-month basis, the inflation rate in November 2025 was 1.22per cent, which was 0.29per cent higher than the rate recorded in October 2025 (0.93per cent).
“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.
According to NBS, the percentage change in the average CPI for the 12-month ending November 2025 over the average for the previous 12-month period was 20.41per cent, showing a 12.36per cent decrease compared to 32.77per cent recorded in November 2024.
The report on urban inflation stated that on a year-on-year basis, in November 2025, the urban inflation rate was 13.61per cent, lower by 23.49percentage points compared to the 37.10per cent recorded in November 2024.
“On a month-on-month basis, the Urban inflation rate was 0.95per cent in November 2025, down by 0.18per cent compared to October 2025 (1.14per cent).
“The corresponding twelve-month average for the Urban inflation rate was 20.80per cent in November 2025. This was 14.27 percentage points lower compared to the 35.07per cent reported in November 2024,’ the report by NBS revealed.
On rural inflation, NBS disclosed that, “The Rural inflation rate in November 2025 was 15.15per cent on a year-on-year basis. This was 17.12per cent points lower compared to the 32.27per cent recorded in November 2024.
“On a month-on-month basis, the Rural inflation rate in November 2025 was 1.88per cent, up by 1.43per cent compared to October 2025 (0.45per cent). The corresponding twelve-month average for the Rural inflation rate in November 2025 was 19.46per cent. This was 11.24percentage points lower compared to the 30.71per cent recorded in November 2024.
NBS explained further that the food inflation rate in November 2025 was 11.08per cent on a year-on-year basis.
“This was 28.85percentage points lower compared to the rate recorded in November 2024 (39.93per cent). The significant decline in the annual food inflation figure is technically due to the change in the base year. On a month-on-month basis, the food inflation rate in November 2025 was 1.13per cent, by 1.5per cent compared to October 2025 (-0.37per cent).
The increase can be attributed to the rate of increase in the average prices of Tomatoes (Dried), Cassava Tuber, Periwinkle (Shelled), Grounded Pepper, Eggs, Crayfish, Melon (Egusi) Unshelled, Oxtail, Onions (Fresh), etc.
“The average annual rate of Food inflation for the twelve months ending November 2025 over the previous twelve-month average was 19.68per cent, which was 18.99percentage points lower compared with the average annual rate of change recorded in November 2024 (38.67per cent),”the report added.
