Breaking: Inflation slumps again as Nigeria records sharp December price slowdown

By Kazeem Ugbodaga

The National Bureau of Statistics (NBS) has reported a further slowdown in Nigeria’s inflation rate in December 2025, reinforcing indications of easing price pressures across the economy.

According to the NBS, the year-on-year headline inflation rate declined to 15.15 per cent in December 2025, compared with 17.33 per cent recorded in November 2025.

This reflects a continued moderation in the pace of increase in the general price level.

On a year-on-year basis, the NBS said headline inflation in December 2025 was 19.65 percentage points lower than the 34.80 per cent recorded in December 2024.

The agency noted that this demonstrates a significant reduction in inflationary pressures compared with the same month of the previous year, although the figures are calculated using a different base year of November 2009 = 100.

The monthly inflation trend also pointed to slower price increases. The NBS reported that the month-on-month headline inflation rate stood at 0.54 per cent in December 2025, representing a decline of 0.69 percentage points from the 1.22 per cent recorded in November.

This indicates that the rate at which average prices rose in December was lower than in the preceding month.

Disaggregated data released by the NBS showed that urban inflation eased substantially on a year-on-year basis. The urban inflation rate fell to 14.85 per cent in December 2025 from 37.29 per cent in December 2024.

However, on a month-on-month basis, urban inflation rose slightly to 0.99 per cent, up from 0.95 per cent in November 2025. The twelve-month average inflation rate for urban areas stood at 23.46 per cent.

In rural areas, inflation followed a similar year-on-year downward trend. The NBS reported that the rural inflation rate declined to 14.56 per cent in December 2025 from 32.47 per cent in December 2024.

On a month-on-month basis, rural inflation dropped sharply to –0.55 per cent, down by 2.43 percentage points from the 1.88 per cent recorded in November. The twelve-month average rural inflation rate for December 2025 was 21.93 per cent.

Overall, the NBS data indicate a broad-based easing of inflationary pressures in December 2025, with notable improvements in both urban and rural areas. While prices are still rising, the slower rates suggest improved price stability compared with both the previous month and the same period last year.