Nigeria’s Inflation Slows to 15.15% in December 2025 — NBS

Nigeria’s headline inflation eased to 15.15% in December 2025, capping a year marked by slowing price pressures and early signs of stabilisation across key sectors, according to the National Bureau of Statistics (NBS).

The decline was partly driven by updates in the Consumer Price Index (CPI) methodology, which were designed to better capture consumption patterns and reflect prevailing economic realities.

Data showed the CPI rose to 131.2 in December from 130.5 in November, indicating slower growth in the general price level. On a month-on-month basis, inflation fell to 0.54% from 1.22% in November. Year-on-year, headline inflation dropped from 17.33% in November 2025 and was significantly lower than the 34.80% recorded in December 2024.

Urban inflation declined to 14.85% year-on-year from 37.29% a year earlier, while month-on-month rates rose slightly to 0.99%. In rural areas, inflation eased to 14.56% from 32.47%, with a month-on-month decline of 0.55%. The twelve-month averages stood at 23.46% for urban areas and 21.93% for rural areas.

Food inflation moderated sharply, falling to 10.84% year-on-year from 39.84% in December 2024, while month-on-month prices dropped by 0.36%, led by lower costs for tomatoes, garri, eggs, potatoes, vegetables, plantain, beans, and onions. The average annual food inflation rate for 2025 was 22.00%.

Core inflation, which excludes farm produce and energy, fell to 18.63% year-on-year from 29.28% in December 2024. On a month-on-month basis, it eased to 0.58% from 1.28% in November, with a twelve-month average of 23.49%.

State-level data showed that Abia, Ogun, and Katsina recorded the highest overall inflation year-on-year, while Sokoto, Plateau, and Kaduna posted the lowest. For food inflation, Yobe, Ogun, and the Federal Capital Territory had the highest rates, whereas Akwa Ibom, Sokoto, and Plateau recorded the lowest.

More Insights
Before the December 2025 report, Nigeria’s inflation had been running at significantly higher levels, reflecting persistent price pressures across both food and non-food items. In December 2024, headline inflation stood at 34.80%, driven largely by rising food costs, energy price fluctuations, and supply chain disruptions. Urban areas experienced sharper increases, with inflation reaching 37.29% year-on-year, while rural areas saw 32.47% during the same period.

Throughout 2025, inflation gradually slowed, but remained elevated in the early months. November 2025 saw headline inflation at 17.33%, still more than double the government’s target range, while month-on-month prices were rising at 1.22%. Food prices in particular remained a key driver of cost-of-living pressures, with staples such as tomatoes, garri, and eggs experiencing volatile price movements.

The high inflationary environment had significant implications for households and businesses, reducing purchasing power, increasing production costs, and prompting calls for tighter monetary and fiscal measures. Understanding this trajectory helps explain the significance of the December 2025 moderation to 15.15%, which marks a notable improvement compared with the previous year and the months leading up to it.