Inflation Drops to 14.45%

James Emejo in Abuja

The Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities further dropped to 14.45 per cent in November compared to 16.05 per cent in the preceding month, the National Bureau of Statistics (NBS) said Monday.Year-on-year, however, headline inflation rate stood at 20.15 per cent compared to 34.60 per cent in November 2024 (after rebasing).According to the CPI Report for November, which was released by the statistical agency, month-on-month, headline inflation rate rose to 1.22 per cent compared to 0.93 per cent in October.Food inflation stood at 11.08 per cent, year-on-year in November from 39.93 per cent in November 2024.The NBS attributed the significant decline in annual food inflation to the change in the base year.However, month-on-month, the food stood at 1.13 per cent, compared to October 2025 -0.37 per cent in October.The increase was attributed to the rate of increase in the average prices of tomatoes, cassava tuber, periwinkle, grounded pepper, eggs, crayfish, melon, unshelled, oxtail, onions, among others.

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