Nigeria’s headline inflation eased sharply to fifteen.15% in December 2025, following a methodological overview by the Nationwide Bureau of Statistics, signalling a big moderation in value pressures in contrast with each the earlier month and the identical interval final 12 months.
Information from the most recent Shopper Value Index report confirmed that the CPI rose to 131.2 factors in December from 130.5 factors in November, indicating a slower tempo of enhance in common costs throughout the financial system.
On a year-on-year foundation, headline inflation fell to fifteen.15% in December 2025 from 17.33% in November and was far decrease than the 34.80% recorded in December 2024. This mirrored a pointy deceleration in inflation over the twelve-month interval.
What the report is saying
The report learn, “The Shopper Value Index (CPI) rose to 131.2 in December 2025, up by 0.7 factors from the earlier month (130.5). The December 2025 year-on-year Headline inflation charge stood at 15.15% relative to the November 2025 headline inflation charge (17.33%).
“On a year-on-year foundation, the December Headline inflation charge was 19.65% decrease than the speed recorded in December 2024 (34.80%).
“This exhibits that the Headline inflation charge (year-on-year foundation) decreased in December 2025 in comparison with the identical month within the previous 12 months (i.e., December 2024), although with a unique base 12 months, November 2009 = 100.”
The bureau acknowledged that the CPI elevated by 0.7 factors month on month, including that “the December 2025 year-on-year Headline inflation charge stood at 15.15% relative to the November 2025 headline inflation charge of 17.33%.”
It additional famous that the December 2025 headline charge was 19.65 proportion factors decrease than the extent recorded a 12 months earlier, highlighting the size of the slowdown, though underneath a revised base 12 months.
On a month-on-month foundation, headline inflation moderated to 0.54% in December from 1.22% in November, indicating easing short-term value pressures.
Why was November inflation revised upward
The NBS clarified that the December figures mirrored a change in methodology following the rebasing of the CPI. Below the new method, year-on-year inflation and sub-indices have been calculated utilizing a twelve-month index reference interval, with the typical CPI for 2024 set to 100, moderately than a single-month reference base.
In response to the bureau, utilizing a single-month base would have created a man-made spike in December inflation as a result of base results moderately than actual value actions.
The adjustment, it stated, aligns with worldwide greatest apply underneath the IMF Shopper Value Index Handbook and the ECOWAS Harmonised CPI framework.
This methodological shift additionally led to a revision of November inflation to 17.33%, larger than the beforehand reported 14.45%, exhibiting the affect of the rebasing train on current inflation readings.
Meals, core and regional inflation traits
Regardless of the month-to-month moderation, inflationary stress over the 12 months remained elevated. The twelve-month common inflation charge stood at 23.01% in December 2025, reflecting cumulative value will increase over the interval.
Meals and non-alcoholic drinks remained the most important contributor to headline inflation, accounting for six.06 proportion factors of the year-on-year determine. Eating places and lodging providers contributed 1.96 proportion factors, transport 1.62 proportion factors, whereas housing, water, electrical energy, gasoline and different fuels added 1.28 proportion factors.
- Meals inflation recorded one of many sharpest enhancements, falling to 10.84% 12 months on 12 months from 39.84% in December 2024. On a month-on-month foundation, meals costs declined by 0.36%, reversing the 1.13% enhance recorded in November.
- The NBS linked the decline to decrease costs of staples reminiscent of tomatoes, garri, eggs, grains, greens, beans and recent onions.
- The twelve-month common meals inflation charge stood at 22.00%.
- Core inflation, which excludes farm produce and vitality, eased to 18.63% 12 months on 12 months from 29.28% a 12 months earlier. Month on month, core inflation slowed to 0.58%, whereas the twelve-month common charge remained excessive at 23.49%.
- City inflation fell to 14.85% 12 months on 12 months from 37.29% in December 2024, though month-on-month city inflation edged up barely to 0.99%. Rural inflation declined to 14.56% 12 months on 12 months and recorded a month-on-month fall of 0.55%, in contrast with a 1.88% enhance in November.
On the state degree, Abia recorded the best year-on-year inflation at 19.03%, adopted by Ogun at 18.80% and Katsina at 18.66%, whereas Sokoto recorded the bottom at 8.61%.
The NBS cautioned in opposition to direct interstate comparisons, noting that variations in consumption patterns and CPI weights throughout states might make such comparisons deceptive.
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