By Deborah Nnamdi
Nigeria’s headline inflation rate moderated to 14.45 per cent in November 2025, reflecting a continued slowdown in consumer price pressures.
The latest figure represents a decline from the 16.05 per cent recorded in October 2025, marking a month-on-month drop of 1.6 percentage points, according to data released on Monday by the National Bureau of Statistics (NBS).
The easing comes after several years of sharp price increases that fuelled a severe cost-of-living crisis across the country. Consumer inflation had peaked at nearly 35 per cent in December last year before declining following a revision of the base year and adjustments to the weighting of items in the inflation basket by the NBS.
Food inflation also slowed, falling to 11.08 per cent year-on-year in November, compared with 13.12 per cent in October.
Despite the improvement, monetary authorities remain cautious. The Central Bank of Nigeria (CBN) last month maintained its Monetary Policy Rate (MPR) at 27 per cent, stressing the need for inflation to decline further.
CBN Governor, Olayemi Cardoso, said inflation, though moderating, remained uncomfortably high.
“Headline inflation remains high at double digits, requiring sustained efforts towards moderating it further,” Cardoso said during a press briefing.
He explained that the decision to hold the policy rate was aimed at consolidating recent gains toward achieving low and stable inflation.
Cardoso also disclosed that the CBN adjusted the corridor on its Standing Facility to +50 to -450 basis points around the MPR, a move that cuts the deposit rate and is intended to encourage banks to increase lending to the real economy rather than parking excess funds with the central bank.
The November figure extends the inflation slowdown trend, following seven consecutive months of deceleration recorded up to October.
