Inflation rate drops again to 15.15% in Dec 2025 from Nov’s 17.33%
The December 2025 year-on-year headline inflation rate has slipped down again to 15.15 per cent relative to the November 2025 headline inflation rate of 17.33 per cent with food inflation rate in December 2025 declining to -0.36 per cent, down by 1.49 per cent compared to November 2025 1.13 per cent.
According to National Bureau of Statistics (NBS), the decline in food inflation can be attributed to the rate of decrease in the average prices in the following food items, namely, tomatoes, garri, eggs, potatoes, carrots, millet, vegetables, plantain, beans, wheat grain, grounded pepper, onions (fresh), etc.
However, the average annual rate of food inflation for the twelve months ending December 2025, relative to the previous twelve-month average, stood at 22.00 per cent.
Meanwhile, in a statement, the Statistician General of the Federation, Prince Adeyemi Adeniran said that following the completion of the recent rebasing, the report is centred on a new Consumer Price Index (CPI) base year of 2024 and a weight reference period of 2023.
“The December 2025 year-on-year headline inflation rate, including all other sub-indexes were obtained through the maximisation of the index reference period. That is, using a 12-month index reference period where the average CPI for the 12 months of 2024 is equated to 100. This is not the same with the single-month index reference period, in which December 2024 was set to 100.
“The headline inflation rate for December 2025 stood at 15.15 per cent, using a 12-month index reference period where 2024 is equated to 100.
“At the divisional level, the three major contributors to the headline inflation were food and non-alcoholic beverages: 6.06 per cent, restaurants & accommodation services: 1.96 per cent, and transport: 1.62 per cent; while the least contributors were recreation, sport, and culture: 0.05 per cent; alcoholic beverages, tobacco, and narcotics: 0.05%, and Insurance and financial services: 0.07.
On a month-on-month basis, the headline inflation rate in December 2025 was 0.54 per cent, which was 0.68 per cent less than the rate recorded in November 2025 (1.22 per cent)” he said
The statement also explained that the inflation rate of the sub-indices for December 2025 shows that only energy increased significantly (2.74 per cent), while other indices decreased with their performances as follow; farm produce (-0.41 per cent), services (0.15 per cent) and goods (0.64 per cent).
“On a year-on-year basis, the urban inflation rate in December 2025 was 14.85 per cent. On a month-on-month basis, the urban inflation rate was 0.99 per cent in December 2025, up by 0.04 per cent compared to November 2025 (0.95 per cent).
The rural inflation rate in December 2025 was 14.56 per cent on a year-on-year basis. On a month-on-month basis, the rural inflation rate in December 2025 was -0.55 per cent, fell by 2.43 per cent compared to November 2025 (1.88 per cent)” the statement further noted.
