Nigeria’s Inflation Drops to 14.45% in 8th Month of Decline
Nigeria’s headline inflation rate has recorded its eighth consecutive monthly decline, dropping to 14.45 percent in November 2025.
According to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday.
This significant easing marks the lowest inflation level the country has seen in five years, offering a glimmer of hope to households and businesses that have grappled with soaring prices.
In its report, the NBS disclosed that the November figure represents a 1.6 percentage point decrease from the 16.05 percent recorded in October 2025.
“The November 2025 headline inflation rate showed a decrease of 1.6 percentage points compared to the October 2025 rate,” the bureau stated.
On a year-on-year basis, the decline is even more pronounced. The headline inflation rate is now 20.15 percentage points lower than the 34.60 percent recorded in November 2024.
The NBS attributed this partly to the statistical base effect resulting from the rebasing of the CPI earlier in the year.
Despite the annual slowdown, month-on-month data indicates that prices are still rising, albeit at a moderated pace.
The NBS noted that month-on-month inflation climbed to 1.22 percent in November, up from 0.93 percent in October, reflecting continued pressure on consumer pockets during the festive season.
Food Inflation Cools A major driver of the disinflation trend was the food sub-index. Food inflation fell to 11.08 percent in November from 13.12 percent in the previous month.
This represents a massive drop of 28.85 percentage points compared to the 39.93 percent food inflation rate recorded in November 2024.
Analysts have pointed to the ongoing harvest season and improved domestic food supply as key factors stabilizing food prices.
The sustained decline aligns with the Federal Government’s fiscal targets. The November figure of 14.45 percent has fallen below the 15 percent inflation target set by President Bola Tinubu for the end of 2025.
Economic experts suggest that this trend validates the current monetary policy tightening and improved foreign exchange liquidity conditions.
However, the month-on-month uptick signals that demand pressures associated with the festive period remain a factor to watch.
The consistent drop in inflation is seen as a potential stabilizer for the economy, which aims to achieve a single-digit inflation rate in the near future.
Related to this topic:
Health Inflation Hits 30.65% as Medical Costs Outpace Headline Rate
