Nigeria’s inflation rate continued its downward trajectory in November 2025, easing to 14.45 per cent from 16.05 per cent recorded in October, figures released by the National Bureau of Statistics (NBS) have shown.
The latest data indicate a month-on-month decline of 1.6 percentage points, reinforcing signs of moderating price pressures in the economy.
According to the NBS, the Consumer Price Index (CPI) increased to 130.5 points in November from 128.9 in October, reflecting a 1.6-point rise within the month. Despite this increase, the pace of inflation slowed compared to previous months.
Inflation had surged to nearly 35 per cent in December 2024 before beginning to fall following the rebasing of the CPI and adjustments to the composition and weighting of the inflation basket.
Food inflation also moderated in November, declining to 11.08 per cent year-on-year from 13.12 per cent in October, suggesting a slowdown in the rise of food prices.
“In November 2025, the headline inflation rate eased to 14.45 per cent compared to the October 2025 figure of 16.05 per cent,” the NBS stated, adding that the movement represented a 1.6 per cent reduction over the month.
On a 12-month average basis, inflation stood at 20.41 per cent for the period ending November 2025, a sharp deceleration from the 32.77 per cent recorded in the corresponding period of 2024.
The report showed that food and non-alcoholic beverages were the largest contributors to headline inflation on a year-on-year basis, accounting for 5.78 percentage points. Restaurants and accommodation services followed at 1.87 percentage points, while transport contributed 1.54 percentage points.
Other key contributors included housing, water, electricity, gas and other fuels at 1.22 percentage points, education services at 0.90 percentage points, and health services at 0.88 percentage points.
While the data point to improving inflation dynamics, analysts caution that sustained policy coordination and stable macroeconomic conditions will be required to ensure that the easing trend translates into tangible relief for households.
Leave a Reply