Nigeria’s Inflation Eases To 15.15% In December 2025 — NBS

Nigeria’s headline inflation rate eased to 15.15 per cent in December 2025, capping a year marked by slowing price pressures and early signs of stabilisation across key sectors of the economy.

The National Bureau of Statistics (NBS) attributed the December figures in part to a review of the Consumer Price Index (CPI) methodology, aimed at better reflecting current economic realities.

Data released by the NBS on Thursday, showed the CPI rose to 131.2 in December from 130.5 in November, indicating a moderation in the pace of price increases across the economy.

On a month-on-month basis, inflation eased to 0.54%, down from 1.22% in November, signalling a reduction in the general price level.

The headline inflation, on a year-on-year basis, dropped from 17.33 per cent in November and was significantly lower than the 34.80 per cent recorded in December 2024, based on the revised base year of November 2009.

The NBS explained that the recent changes in its CPI methodology were technical and aimed at improving accuracy, adding that the adjustments should not be seen as a reflection of worsening economic conditions.

Urban inflation declined sharply to 14.85 per cent year-on-year from 37.29 per cent in December 2024, while the month-on-month rate rose slightly to 0.99 per cent. The corresponding twelve-month average was 23.46 per cent. In rural areas, inflation dropped to 14.56 per cent year-on-year from 32.47 per cent a year earlier, with a month-on-month decline of 0.55 per cent. The twelve-month average rural inflation rate stood at 21.93 per cent.

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Food inflation also moderated significantly, falling to 10.84 per cent year-on-year from 39.84 per cent in December 2024. On a month-on-month basis, food prices declined by 0.36 per cent, driven by lower prices of items such as tomatoes, garri, eggs, potatoes, vegetables, plantain, beans and onions. The average annual food inflation rate for the twelve months ending December 2025 stood at 22.00 per cent.

Core inflation, which excludes farm produce and energy, dropped to 18.63 per cent year-on-year from 29.28 per cent in December 2024. On a month-on-month basis, it eased to 0.58 per cent from 1.28 per cent in November. The twelve-month average core inflation rate was 23.49 per cent.

State-level data showed that on a year-on-year basis, Abia, Ogun and Katsina recorded the highest all-items inflation rates, while Sokoto, Plateau and Kaduna posted the lowest. On a month-on-month basis, the highest increases were recorded in Cross River, Abia and Delta, whereas Ondo, Gombe and Jigawa recorded declines.

For food inflation, Yobe, Ogun and the Federal Capital Territory recorded the highest year-on-year rates, while Akwa Ibom, Sokoto and Plateau recorded the lowest. Month-on-month food inflation was highest in Imo, Nasarawa and Yobe, while Plateau, Rivers and Zamfara recorded declines.

The statistics office noted that the revised CPI methodology was designed to better capture changes in consumption patterns and reflect current economic conditions across the country.