As widely expected, Nigeria’s inflation maintained its downward trend in November, with headline inflation easing to 14.45% year-on-year from 16.05% in October. This marks the seventh consecutive month of disinflation. The moderation reflects improving macroeconomic conditions and favourable base effects. Softer price pressures were particularly evident in the food segment, supported by improved supply from the late harvest season and relatively stable logistics costs, with food inflation declining to 11.08% from 13.12%. Core inflation also slowed to 18.04% from 18.69%, underscoring easing underlying price pressures amid relative exchange-rate stability.