Nigeria’s Inflation Rate December 2025

Key Highlights on Inflation figure in December 2025

Headline inflation eased to 15.15% year-on-year in December, bringing the 2025 annual average to 23.33%. The note also explains the index rescaling/normalization applied by NBS following the CPI rebasing, which helped avoid an artificial spike in December inflation that could have arisen from the low December 2024 base.

On a month-on-month basis, inflation moderated to 0.54% in December from 1.22% in November, indicating easing underlying price pressures. The analysis highlights imported food, energy, and selected service categories as the main drivers of December MoM inflation, while transport pressures softened.

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