Nigeria’s inflation rate fell to 16.05 percent in October 2025, down from 18.02 percent in September, according to the National Bureau of Statistics. This marks the seventh consecutive month of declining inflation since April 2025. The Consumer Price Index report shows a 1.96 percent drop in the headline inflation rate. On a year‑on‑year basis, inflation is 17.82 percent lower than in October 2024, when it stood at 33.88 percent. However, on a month‑to‑month basis the headline rate rose by 0.21 percent to 0.9 percent in October 2025, compared with 0.72 percent in September.
Food inflation also eased, falling to 13.12 percent year‑on‑year—a 26.04‑percentage‑point decline from the 39.16 percent recorded in October 2024. The reduction is partly due to a change in the base year. Nonetheless, food inflation increased by 1.21 percent month‑on‑month, driven by higher prices for onions, fruits and meats. Urban inflation stood at 15.65 percent in October 2025, down from 36.38 percent a year earlier, while rural inflation was 15.86 percent, lower than the 31.59 percent recorded in October 2024. The twelve‑month average inflation rates were 22.68 percent for urban areas and 20.81 percent for rural areas.
The downward trend in inflation is a positive development for Nigeria’s economy, which has struggled with high inflation in recent years due to currency fluctuations and supply‑chain disruptions. The National Bureau of Statistics’ data suggests that inflation is trending lower, which could influence monetary policy and support economic growth. The decline in food inflation is especially significant, given the strong impact of food prices on consumer spending and overall inflation. However, the month‑to‑month rise in food prices underscores the need for continued monitoring to keep inflation under control.
As Nigeria navigates ongoing inflation challenges, the bureau’s data offers valuable insight into the trends shaping the country’s economic landscape. Policymakers will be watching closely to see whether this decline persists in the coming months.
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