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Nigeria’s headline inflation rises to 15.15% – NBS

NBS adopted a 12-month average CPI base to avoid artificial inflation spikes, revising December 2025 headline inflation to 15.15%, a 19.65% drop from December 2024, officials said.

  • On December 2025, the National Bureau of Statistics published its monthly report saying Nigeria's headline inflation dropped, presenting re-referenced series using a 12-month CPI base.
  • NBS used a 12-month index reference period to maximise the average CPI for 2024 by equating it to 100, replacing a single-month base to prevent an artificial base-effect spike.
  • Year-on-Year changes show the December Headline inflation rate was 19.65% lower than December 2024, while the month-on-month rate in December 2025 was 0.54%, down 0.69% from November 2025.
  • The rebasing change affects the raising factor for the 2024 CPI series and alters already released January–November 2025 year-on-year rates, as the report says the average price level increase in December 2025 was lower than in November 2025.
  • NBS reported November's figure as 14.45% and said the CPI adjustment raised it to 17.33%, following guidance in the IMF Consumer Price Index Manual Section 9.125 and ECOWAS Harmonised CPI Manual.
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The Whistler Nigeria broke the news in on Thursday, January 15, 2026.
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