…As Kogi State Consumers Pay Highest For Food Items Y-o-Y
As projected by many statistical experts and economic analysts, Nigeria’s headline inflation rate has moderated to 14.45% in November 2025, marking a significant slowdown from the 16.05% recorded in the preceding month.
The National Bureau of Statistics (NBS) in its ‘Consumer Price Index November 2025’ report released on Monday, indicated that the slowdown in the general price level in the country in November this year represented 1.6 percentage points decline month-on-month.
According to the NBS, on a year-on-year basis, the headline inflation rate was 20.15 percentage points lower than the rate recorded in November 2024, which stood at 34.60 per cent.
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The statistics agency clarified: “This shows that the headline inflation rate on a year-on-year basis decreased in November 2025 compared to the same month in the preceding year, though with a different base year of November 2009 = 100.”
The Bureau also reported a decline in food inflation, which fell to 11.08% in the month under review from 13.12% in October, adding that the food inflation rate on a year-on-year basis slows to 11.08% in November, representing a drop of 28.85 percentage points from the 39.93% recorded in the corresponding month of last year.
It attributed the decline in the annual food inflation figure largely to the change in the base year used for computation.
A further disaggregation of the CPI report on Urban and Rural Inflation basis indicated that on a year-on-year basis, the Urban inflation rate was 13.61% in November this year, lower by 23.49% points compared to the 37.10% recorded in November 2024.
The Bureau reported that on a month-on-month basis, the Urban inflation rate was 0.95% in November 2025, down by 0.18% compared to 1.14% recorded in the preceding month, while the corresponding twelve-month average for the Urban inflation rate was 20.80% in the month under review, lower by 14.27% points compared to the 35.07% reported in November 2024.
Similarly, it further disclosed in the CPI report that the Rural inflation rate in November 2025 was 15.15% on a year-on-year basis, which was 17.12% points lower compared to the 32.27% recorded in November 2024.
Also, the data indicated that on a month-on-month basis, the Rural inflation rate in November 2025 was 1.88%, up by 1.43% compared to 0.45% October 2025 while the corresponding twelve-month average for the Rural inflation rate in the month under review slowed to 19.46%, representing 11.24% points lower compared to the 30.71% recorded in the corresponding month of last year.
In addition, the CPI report showed that the “All items less farm produces and energy” or Core inflation, which excludes the prices of volatile agricultural produces and energy, dipped to 18.04% in the month under review on a year-on-year basis; showing a decline of 10.71% when compared to the 28.75% recorded in November 2024.
Similarly, on a month-on-month basis, the Core Inflation rate was 1.28% in November 2025, down by 0.14% compared to 1.42% of the preceding month just as the average twelve-month annual inflation rate was 20.76% in the month under review, which was 5.88% points lower than the 26.64% recorded in November 2024.
On the inflation trend at state level, the Bureau clarified that when analyzing the price movements based on state profiles the users of the data should note that the CPI is weighted by consumption expenditure patterns that vary across states and locations.
Accordingly, it clarified that the weight assigned to a particular Food or Non-Food item may differ from State to State, making interstate comparisons of consumption baskets inadvisable and potentially misleading.
Specifically, it reported that in the month under review, the All-Items inflation rate on a year-on-year basis was highest in Rivers (17.78%), Ogun (17.65%), and Ekiti (16.77%), while Plateau (9.13%), Kebbi (10.32%) and Katsi-na (10.60%) recorded the lowest rise in Headline inflation on a Year-on-Year basis. Also, it reported that on a month-on-month basis, however, November 2025 recorded the highest increases in Bayelsa (6.58%), Gombe (5.11%) and Edo (4.45%), while Plateau (-2.54%), Delta (-2.38%), and Kaduna (-2.24%) recorded a decline in the Month-on-Month inflation.
On Food Inflation, the statistics agency’s data reflected that in the month under review, Food inflation on a year-on-year basis was highest in Kogi (17.83%), Ogun (16.52%), and Rivers (16.11%), while Imo (3.52%), Katsina (3.65%), and Akwa Ibom (4.52%) recorded the slowest rise in Food inflation on a year-on-year basis.
It added that on a month-on-month basis, November 2025 Food inflation was highest in Yobe (9.52%), Katsina (6.61%) and Ondo (6.04%), while Imo (-6.49%), Nasarawa (-5.48%), and Enugu (-2.54%) recorded a decline in Food inflation on a month-on-month basis.
