Nigeria’s headline inflation rate declined to 15.15% in December 2025, according to the latest consumer price index (CPI) report released by the National Bureau of Statistics (NBS). The report, published on Thursday, shows a continued easing of price pressures after a period of elevated inflation.
The NBS revealed that the CPI, which tracks the average changes in prices of goods and services, rose slightly to 131.2 points in December 2025, up from 130.5 points in November. Despite this monthly rise, the year-on-year headline inflation rate fell from 17.33% in November 2025 to 15.15% in December, marking a significant decline of nearly 2.2 percentage points.
Brandspur Banking News Desk notes that NBS statistician-general Adeyemi Adeniran attributed the decline to the base-year effect following the rebasing exercise. “The decrease is influenced by adjustments in the reference period for December 2024, which was set to 100. This recalibration led to what we termed an ‘artificial spike’ in earlier projections,” he said.
Food prices, a major driver of overall inflation, also showed notable moderation. Food inflation for December 2025 dropped to 10.84% year-on-year, down sharply from 39.84% in December 2024. On a month-on-month basis, food prices even fell by 0.36%, reflecting reduced costs in items such as tomatoes, garri, eggs, potatoes, carrots, millet, vegetables, plantains, beans, wheat grain, ground pepper, and onions.
The NBS data highlighted regional variations in food price movements. Yobe (15.25%), Ogun (14.12%), and Abuja (13.24%) recorded the highest year-on-year food inflation, while Akwa Ibom (4.34%), Sokoto (4.62%), and Plateau (6.19%) experienced the slowest growth. Month-on-month spikes were highest in Imo (3.19%) and Nasarawa (3.16%), while Plateau (-2.76%), Rivers (-2.50%), and Zamfara (-1.93%) saw declines.
According to the NBS, this marks the ninth consecutive month of declining headline inflation, signalling gradual easing of price pressures, even as the cost of living remains a concern for households nationwide. Analysts suggest that the trend could support monetary policy stability and aid in restoring purchasing power, though vigilance is required given global and domestic economic pressures.
The bureau also clarified that the reported decline does not necessarily equate to lower everyday prices for consumers, as certain essential goods continue to fluctuate due to supply constraints, transportation costs, and seasonal factors.
This latest report provides policymakers, investors, and businesses with critical insights into Nigeria’s inflationary trends and highlights the impact of the rebasing exercise on the headline statistics.
