Nigeria’s headline inflation rate eased sharply to 15.15% in December 2025, following a methodological review by the National Bureau of Statistics (NBS), signalling a significant moderation in price pressures compared with both the preceding month and the same period last year.
Data from the latest Consumer Price Index (CPI) report released by the NBS showed that the CPI increased marginally to 131.2 points in December, from 130.5 points in November, reflecting a slower pace of price increases across the economy.
Year-on-Year Inflation
On a year-on-year basis, headline inflation declined to 15.15 per cent in December 2025, down from 17.33 per cent in November, and substantially lower than the 34.80 per cent recorded in December 2024, indicating a sharp deceleration in inflation over the twelve months.
According to the NBS, “The Consumer Price Index (CPI) rose to 131.2 in December 2025, up by 0.7 points from the previous month (130.5). The December 2025 year-on-year Headline inflation rate stood at 15.15 per cent relative to the November 2025 headline inflation rate of 17.33 per cent.”
The bureau noted that, on a year-on-year basis, the December 2025 headline inflation rate was 19.65 percentage points lower than the rate recorded in December 2024.
“This shows that the Headline inflation rate (year-on-year basis) decreased in December 2025 compared to the same month in the preceding year, though with a different base year, November 2009 = 100,” the report stated.
The NBS explained that the observed slowdown reflects inflation dynamics under a revised base year, following its recent methodological review of the CPI framework.
Month-on-month
On a month-on-month basis, headline inflation moderated to 0.54 per cent in December, compared with 1.22 per cent in November, suggesting easing short-term price pressures toward the end of the year.
The sharp decline in both annual and monthly inflation rates points to improving price stability, although analysts caution that comparisons should be interpreted within the context of the rebased CPI methodology.
The latest figures come amid ongoing fiscal and monetary policy adjustments aimed at stabilising prices and supporting economic recovery.
