Nigeria inflation rate falls to 16.05% in October 2025, marking a sharp decline from 18.02% in September, according to NBS CPI report

Nigeria inflation rate declined sharply in October 2025, easing to 16.05 per cent from the 18.02 per cent recorded in September, according to the latest Consumer Price Index report released by the National Bureau of Statistics on Monday.

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The bureau noted that the CPI rose to 128.9 in October, a slight increase from the 127.7 recorded in September.

Despite the month-to-month rise in the index, the overall headline figure reflected a meaningful slowdown in inflationary pressure.

NBS explained that the 1.96-per-cent decrease in headline inflation compared to September underscores a continued moderation in price movements across several categories.

On a year-on-year basis, the Nigeria inflation rate was significantly lower than the 33.88 per cent recorded in October 2024, representing a 17.82-per-cent decline.

The bureau attributed this shift partly to the different base year applied in computing the CPI, set at November 2009 = 100.

However, the report also showed that inflation rose slightly on a month-on-month basis.

The October 2025 rate stood at 0.93 per cent, higher than the 0.72 per cent recorded in September.

According to NBS, this indicates that prices increased at a faster pace in October than in the previous month, even though the overall year-on-year headline rate continued to ease.

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The Nigeria inflation rate figures will likely influence monetary policy discussions as the country continues to navigate the delicate balance between stabilising prices and supporting economic growth.