Nigeria’s headline inflation rate slowed to 14.45 per cent in November 2025, down 1.6 percentage points from the 16.05 per cent recorded in October 2025, reaching its lowest level in five years.

This was disclosed on Monday by the National Bureau of Statistics in its November 2025 Consumer Price Index report.

According to the NBS, “In November 2025, the headline inflation rate eased to 14.45 per cent relative to the October 2025 headline inflation rate of 16.05 per cent. Looking at the movement, the November 2025 headline inflation rate showed a decrease of 1.6 percentage points compared to the October 2025 rate.”

On a year-on-year basis, the bureau noted that the headline inflation rate was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024.

“This shows that the headline inflation rate on a year-on-year basis decreased in November 2025 compared to the same month in the preceding year, though with a different base year of November 2009 = 100,” the report stated.

However, the month-on-month data indicated a slight uptick, with the headline inflation rate rising to 1.22 per cent in November 2025, up 0.29 percentage points from 0.93 per cent in October.

“This means that in November 2025, the rate of increase in the average price level was higher than the rate recorded in October 2025,” the bureau added.
The NBS also highlighted a drop in food inflation, which fell to 11.08 per cent in November 2025 from 13.12 per cent in October.

According to the bureau, the year-on-year food inflation rate was 11.08 per cent in November 2025, marking a decline of 28.85 percentage points from 39.93 per cent in November 2024.

The NBS explained that the sharp fall in the annual food inflation figure was largely influenced by the change in the base year used for calculation.