The National Bureau of Statistics (NBS) has disclosed that the December 2025 year-on-year Headline inflation rate stood at 15.15%, relative to the November 2025 headline inflation rate of 17.33%.
This was contained in the Consumer Price Index (CPI) released by the Bureau on Thursday.
On a year-on-year basis, the NBS said the December Headline inflation rate was 19.65% lower than the rate recorded in December 2024 (34.80%).
This shows that the Headline inflation rate (year-on-year basis) decreased in December 2025 compared to the same month in the preceding year (i.e., December 2024), though with a different base year, November 2009 = 100.
On a month-on-month basis, the Headline inflation rate in December 2025 was 0.54%, which is 0.69% less than the rate recorded in November 2025 (1.22%).
This means that in December 2025, the rate of increase in the average price level was lower than in November 2025.
URBAN INFLATION
On a year-on-year basis, in December 2025, the Urban inflation rate stood at 14.85% from 37.29% in December 2024. while on a month-on-month basis, the inflation rate rose to 0.99%, up by 0.03% from November 2025 (0.95%). The corresponding twelve-month average for the Urban inflation rate was 23.46%.
RURAL INFLATION
The Rural inflation rate in December 2025 stood at 14.56% on a year-on-year basis from 32.47% in December 2024. On a month-on-month basis, the rate declined to -0.55%, down by 2.43% compared to November 2025 (1.88%). In addition, the corresponding twelve-month average for the Rural inflation rate in December 2025 was 21.93%.
FOOD INFLATION
The Food inflation rate in December 2025 stood at 10.84% on a year-on-year basis from 39.84% in December 2024. On a month-on-month basis, the Food inflation rate declined to -0.36%, down by 1.49% compared to November 2025 (1.13%). This decline 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. 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%.
CORE INFLATION
Core inflation, which excludes the prices of volatile agricultural produce and energy, stood at 18.63% in December 2025 on a year-on-year basis from 29.28% in December 2024, while on a month-on-month basis, the Core Inflation rate was 0.58%, down by 0.7% compared to November 2025 (1.28%). The average twelve-month annual inflation rate stood at 23.49% for the twelve months ending December 2025.
