Food price increases, driven by year-end festivities demand and insecurity challenges, emerged as the major driver of inflationary pressure in November 2025, pushing the month-on-month (MoM) headline inflation rate to 1.22 per cent, its highest level in four months, with analysts projecting a similar trend in December.
Similarly, the month-on-month (MoM) food inflation rate rose to 1.13 per cent, the highest in three months since, driven by increase in the average prices of some food items.
However, the Headline inflation rate declined for the eight consecutive months, to 14.45 per cent from 16.05 per cent in October.
The National Bureau of Statistics (NBS), disclosed this in its latest Consumer Price Index (CPI) report.
CPI rises, MoM inflation accelerates
The NBS said: “The Consumer Price Index (CPI) rose to 130.5 in November 2025, reflecting a 1.6-point increase from the preceding month (128.9). In November 2025, the Headline inflation rate eased to 14.45% relative to the October 2025 headline inflation rate of 16.05%. Looking at the movement, the November 2025 Headline inflation rate showed a decrease of 1.6% compared to the October 2025 Headline inflation rate.
“On a year-on-year basis, the Headline inflation rate was 20.15% lower than the rate recorded in November 2024 (34.60%). This shows that the Headline inflation rate (year-on-year basis) decreased in November 2025 compared to the same month in the preceding year (i.e., November 2024), though with a different base year, November 2009 = 100.
“On a month-on-month basis, the Headline inflation rate in November 2025 was 1.22%, which was 0.29% higher than the rate recorded in October 2025 (0.93%). This means that in November 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in October 2025.
“he percentage change in the average CPI for the twelve months ending November 2025 over the average for the previous twelve-month period was 20.41%, showing a 12.36% decrease compared to 32.77% recorded in November 2024.
