Nigeria’s inflation rate has declined for the seventh consecutive month, reaching 16.05 percent in October 2025, according to the latest data from the National Bureau of Statistics. This represents a decrease from the 18.02 percent recorded in September 2025. The Consumer Price Index and inflation report, released on Monday, indicates a 0.93 percent month-on-month decline in the country’s inflation rate.

The data shows that the food inflation rate also experienced a decline, with a month-on-month decrease of 0.37 percent. The National Bureau of Statistics noted that the headline inflation rate eased to 16.05 percent in October, compared to the previous month’s rate of 18.02 percent. This trend suggests a continued moderation in the country’s inflation rate, which is in line with predictions made by analysts.

The decline in inflation rate is a significant development, as it may indicate a slowdown in the rate of price increases for goods and services in the country. The National Bureau of Statistics’ report provides insight into the country’s economic trends, highlighting the need for continued monitoring of inflation rates and their impact on the economy.

In recent months, Nigeria has experienced a steady decline in inflation rates, with the current rate being the lowest in several months. This trend is likely to have a positive impact on the country’s economy, as lower inflation rates can lead to increased consumer spending and economic growth. The National Bureau of Statistics will continue to monitor inflation rates and provide updates on the country’s economic trends.

The latest data release is consistent with expectations, as analysts had predicted a further moderation in the country’s inflation rate in October. The decline in inflation rate is a positive development, and it will be important to monitor future trends to determine if this decline is sustained. With the current inflation rate at 16.05 percent, Nigeria’s economy may be experiencing a period of relative stability, which could have implications for economic policy and decision-making.