Nigeria’s headline inflation rate slowed to 15.15% in December 2025, the National Bureau of Statistics (NBS) reported Thursday, marking continued moderation in price pressures at the end of the year.
The December figure is a decline from 17.33% in November 2025 and significantly lower than the 34.80% recorded in December 2024, though the bureau noted that changes in how inflation is calculated influenced the comparison.
The Consumer Price Index (CPI) rose slightly to 131.2 in December from 130.5 in November, reflecting a slower pace of price increases across the Nigerian economy.
On a month-to-month basis, inflation eased to 0.54% from 1.22% in November, indicating a reduction in short-term price pressures.
NBS officials attributed the headline decline partly to a review of the CPI methodology following the bureau’s rebasing exercise, which aimed to update the base year and better reflect current consumption patterns.
The bureau stressed that the methodological changes were technical and not a sign of deteriorating economic conditions.
Food prices, a major driver of overall inflation, also eased.
Year-on-year food inflation dropped to 10.84% in December from much higher levels a year earlier, and on a monthly basis, food prices fell by 0.36%, supported by lower prices for staples such as tomatoes, garri, eggs and vegetables.
Core inflation, which excludes volatile food and energy prices, moderated to 18.63% year-on-year, down from about 29.3% in December 2024.
Urban inflation slowed to 14.85%, while rural inflation declined to 14.56% on a year-on-year basis.
At the state level, Abia, Ogun and Katsina recorded some of the highest year-on-year inflation rates, while Sokoto, Plateau and Kaduna saw the slowest price increases.
The moderation in inflation arrives amid broader efforts to stabilise Nigeria’s economy, which has faced persistent price pressures in recent years.
Economists and policymakers will be watching whether the trend continues in early 2026, particularly as the impact of CPI methodological changes becomes clearer.
