Nigeria’s headline inflation rate eased for the eighth consecutive month in November, helped by slowing food inflation, official data showed on Monday.
Consumer inflation stood at 14.45% year-on-year last month, down from 16.05% in October.
This year’s inflation slowdown follows years of surging prices that triggered a cost-of-living crisis in Africa’s most populous nation.
Consumer inflation peaked at nearly 35% last December, then fell after the statistics office revised its base year and adjusted the weights of items in its price basket.
Food inflation was 11.08% year-on-year in November, down from 13.12% in October.
The central bank said last month that it wanted inflation to fall further as it left its main interest rate unchanged.
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