Inflation Eases As Macroeconomic Stability Strengthens

According to Ireporter Online, average prices of goods and services in Nigeria have continued to ease, buoyed by improved macroeconomic stability, steady foreign exchange conditions, better food supply, and more efficient logistics.

Ahead of the release of the Consumer Price Index (CPI) report by the National Bureau of Statistics, findings from independent consumer surveys and econometric assessments conducted on Monday indicated a sustained disinflationary trend, with headline inflation declining by over 100 basis points.

The assessments revealed that the inflation rate fell for the eighth consecutive month to approximately 14.00 per cent in November, down from 16.50 per cent in October and 18.02 per cent in September. The easing trend began in April, when inflation moderated from 24.23 per cent in March to 23.71 per cent in April, before steadily declining through subsequent months.

Analysts at Coronation Group projected headline inflation to settle around 14.30 per cent in November 2025, reflecting continued moderation in price pressures. Similarly, SCM Capital noted that sustained stability in the foreign exchange market would further support the disinflationary momentum by reducing imported inflation and pass-through effects.

SCM Capital explained that easing forex pressures, the reopening of borders, declining input costs, and improved domestic supply conditions are expected to continue softening both food and non-food prices across the economy.

Meanwhile, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf, urged policymakers to adopt a coordinated mix of monetary, fiscal, and structural measures to consolidate recent gains and translate them into tangible welfare benefits for citizens. He stressed that despite the overall decline in inflation, key cost drivers such as food, energy, transportation, education, and healthcare remain major pressure points for households.

Dr. Yusuf emphasized the need for more deliberate fiscal interventions to further reduce the prices of essential goods and services, noting that these items account for the bulk of household spending. He suggested indirect subsidies, expanded mass transit systems, and increased investment in agricultural inputs as practical measures to lower costs.

He added that all tiers of government—federal, state, and local—must play active roles by providing affordable transportation, strengthening support for agriculture, and sustaining subsidies in education and healthcare. According to him, such targeted interventions are critical to ensuring that the benefits of disinflation extend beyond macroeconomic indicators and meaningfully improve living standards.