Nigeria’s inflation rate has decreased to 14.45% in November 2025, according to the latest data from the National Bureau of Statistics (NBS). This represents a decline of 1.6 percentage points from the 16.05% recorded in October 2025, marking a seventh consecutive month of slowing inflation. The decrease follows years of surging prices that led to a cost-of-living crisis in the country.
The NBS report shows that consumer inflation peaked near 35% in December last year before falling after the bureau revised its base year and adjusted the weight of items in its price basket. Food inflation also decreased, standing at 11.08% year-on-year in November compared to 13.12% in October. The Central Bank of Nigeria (CBN) has expressed its desire to see inflation fall further, leaving its main interest rate unchanged last month.
CBN Governor Olayemi Cardoso stated that inflation remains too high, with the Monetary Policy Rate (MPR) maintained at 27%. “Headline inflation remains high at double digits, requiring sustained efforts towards moderating it further,” Cardoso said. The decision to keep the MPR unchanged was made to sustain progress towards achieving low and stable inflation.
In an effort to encourage banks to lend rather than park money with the central bank, the CBN is adjusting the corridor on its Standing Facility to +50 to -450 basis points around the MPR and cutting its deposit rate. The bank’s goal is to promote lending and support economic growth while keeping inflation in check.
The decline in inflation is a positive development for Nigeria’s economy, which has been grappling with high prices and a cost-of-living crisis. As the country continues to work towards achieving low and stable inflation, the CBN’s efforts to adjust monetary policy and encourage lending are crucial. With the inflation rate still in double digits, sustained efforts are needed to moderate it further and support economic growth.
