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Nigeria’s food inflation moderated on a year-on-year basis in November 2025, reflecting a sharp slowdown in annual price pressures, even as month-on-month food prices recorded an increase.
Latest Consumer Price Index data shows that food inflation stood at 11.08 percent in November, significantly lower than the level recorded in the corresponding period of 2024.
The substantial decline in the annual food inflation rate highlights a marked easing compared with the previous year, largely influenced by the change in the inflation base year.
This adjustment has reshaped year-on-year comparisons and contributed to the steep drop in reported annual food inflation.
However, monthly food price movements tell a different story. On a month-on-month basis, food inflation rose to 1.13 percent in November, compared with a contraction recorded in October.
This indicates that food prices increased within the month, pointing to renewed short-term pressures on household food costs.
The rise in monthly food inflation was driven by higher average prices of key food items, including dried tomatoes, cassava tubers, periwinkle, ground pepper, eggs, crayfish, melon, oxtail, and fresh onions. These increases suggest ongoing supply-side and seasonal factors affecting food markets despite the broader moderation in annual inflation.
On an average basis, food inflation for the twelve months ending November 2025 stood at 19.68 percent. This represents a significant decline compared with the average recorded in the corresponding period of the previous year, reinforcing the broader disinflation trend in annual food prices.
Analysts note that while the year-on-year easing provides relief in headline terms, the rebound in month-on-month food inflation underscores persistent vulnerabilities in food supply chains.
Factors such as transportation costs, weather-related disruptions, and input prices continue to influence food price dynamics across the country.
The mixed performance highlights the need to distinguish between base-driven annual declines and current price trends faced by consumers. While annual food inflation has eased sharply, the increase in monthly prices suggests that households may still experience pressure on food budgets in the near term.
Going forward, the trajectory of food inflation will depend on agricultural output, logistics efficiency, exchange rate stability, and broader macroeconomic conditions.
Sustaining the decline in annual food inflation while containing monthly price increases will remain a key challenge for policymakers as inflation dynamics continue to evolve.
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