By Peter Omopo
Nigeria’s headline inflation rate has fallen to 16.05% in October 2025, marking the seventh consecutive month of decline, according to new data released by the National Bureau of Statistics (NBS).
The figures were published on Monday in the Bureau’s Consumer Price Index (CPI) and Inflation Report shared on its official X handle. The latest rate represents a significant drop from the 18.02% recorded in September 2025.
Month-on-Month Inflation Rises Slightly
Despite the year-on-year easing, the NBS report noted that month-on-month inflation increased by 0.93% in October, indicating continued short-term price pressures in some categories.
Food Inflation Also Eases
The October CPI data also showed a slight decline in food inflation, which dropped 0.37% month-on-month. Food inflation has been a major driver of overall inflation in recent years, and the easing suggests some moderation in staple food prices.
Seventh Consecutive Month of Decline
The NBS noted that the latest figures continue a steady downward trend in Nigeria’s inflation rate throughout 2025. Analysts say the decline follows ongoing policy interventions, moderated demand pressures, and stabilising market conditions.
According to the statement:
“In October 2025, the headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02%. Headline inflation rate was 0.93% MoM… The food inflation rate was -0.37% MoM.”
Previous Declines Recorded
Nigeria has recorded consistent easing since mid-year, with inflation falling to:
- 22.22% in June 2025
- 22.74% in July 2025
- 20.12% in August 2025
- 18.02% in September 2025
The October drop continues this trend and is seen as a positive sign for economic stability, though experts warn that month-on-month increases still require close monitoring.
More details are expected as the NBS releases a full breakdown of the CPI components.
