Nigeria’s inflation ease to 14.45% in November

Nigeria’s headline inflation rate eased to 14.45 percent in November 2025, from 16.05 percent in October 2025, according to a report by the National Bureau of Statistics.

According to the report which was released by the Bureau on Monday, the November 2025 inflation rate showed a decrease of 1.6 percent compared to the October 2025 headline inflation rate.

On a year-on-year basis, the headline inflation rate was 20.15 percent lower than the rate recorded in November 2024 (34.60 percent). While on a month-on-month basis, the headline inflation rate in November 2025 was 1.22 percent, which was 0.29 percent higher than the rate recorded in October 2025 (0.93 percent).

The report showed that food inflation rate in November 2025 was 11.08 percent on a year-on-year basis. This was 28.85 percent points lower compared to the rate recorded in November 2024 (39.93 percent).

It noted that 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 1.13 percent, up by 1.5 percent compared to October 2025 (-0.37 percent).

The increase, according to the Bureau is 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 19.68 percent, which was 18.99 percent points lower compared with the average annual rate of change recorded in November 2024 (38.67 percent),” the report stated.

In November 2025, food inflation on a Year-on-Year basis was highest in Kogi (17.83 percent), Ogun (16.52 percent), and Rivers (16.11 percent), while Imo (3.52 percent), Katsina (3.65 percent), and Akwa Ibom (4.52 percent) recorded the slowest rise in food inflation on a Year-on-Year basis.

Read also: Nigeria’s inflation falls below economists’ forecasts to 16.1 percent

On a Month-on-Month basis, however, November 2025 food inflation was highest in Yobe (9.52 percent), Katsina (6.61 percent) and Ondo (6.04 percent), while Imo (-6.49 percent), Nasarawa (-5.48 percent), and Enugu (-2.54 percent) recorded a decline in food inflation on a Month-on-Month basis.

Also, all items less farm produces and energy, which excludes the prices of volatile agricultural produces and energy, stood at 18.04 percent in November 2025 on a year-on-year basis; showing a decline of 10.71 percent when compared to the 28.75 percent recorded in November 2024.

On a month-on-month basis, the Core Inflation rate was 1.28 percent in November 2025, down by 0.14 percent compared to October 2025 (1.42 percent). The average twelve-month annual inflation rate was 20.76 percent for the twelve months ending November 2025, which was 5.88 percent points lower than the 26.64 percent recorded in November 2024.

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