Nigeria’s Inflation Drops To 16.05% From 18.02%

Nigeria’s headline inflation rate eased to 16.05 per cent in October 2025 from 18.02 per cent in September, the National Bureau of Statistics (NBS) has revealed. This represents a 1.96 per cent decrease, according to the latest Consumer Price Index (CPI) report released on Monday.

Data from the report indicate that the country has now recorded seven consecutive months of declining inflation since April 2025. On a year-on-year basis, the headline inflation rate in October 2025 was 17.82 per cent lower than the 33.88 per cent recorded in October 2024.

On a month-on-month basis, the headline inflation rate in October 2025 stood at 0.9 per cent, slightly higher than the 0.72 per cent recorded in September 2025.

Food inflation, a major component of the CPI, was 13.12 per cent on a year-on-year basis in October 2025. This is 26.04 percentage points lower than the 39.16 per cent recorded in October 2024. The NBS noted that the decline is partly due to a change in the base year.

However, food inflation on a month-on-month basis rose to -0.37 per cent in October 2025, up by 1.21 per cent compared to September 2025’s -1.57 per cent.

“This increase is largely due to rising prices of onions, fruits like oranges and pineapple, shrimp, groundnuts, vegetables including Ugu and Okazi leaf, as well as goat meat, cow tail, and liver,” the NBS said.

The average annual food inflation for the twelve months ending October 2025 was 21.96 per cent, 16.16 percentage points lower than the 38.12 per cent recorded over the same period in 2024.

The report highlights a continued moderation in Nigeria’s inflationary pressures, signaling progress in price stability amid ongoing economic challenges.