Nigeria’s headline inflation rate fell to 16.05 per cent in October 2025, the National Bureau of Statistics (NBS) reported on Monday, marking a continued decline from September’s 18.02 per cent. Year-on-year, inflation dropped sharply from 33.88 per cent in October 2024.
Monthly data indicated a 0.93 per cent increase in consumer prices in October, up slightly from 0.72 per cent in September. Food and beverages were the main contributors to inflation, followed by accommodation and transport services. Core inflation, which strips out energy and agricultural produce, stood at 18.69 per cent year-on-year.
Food inflation eased to 13.12 per cent on a yearly basis, with key items such as onions, oranges, pineapples, goat meat, cow tail, and leafy vegetables seeing price rises month-on-month.
Geographically, the highest annual inflation rates were recorded in Ekiti, Nassarawa, and Zamfara, while Bauchi, Anambra, and Gombe saw the lowest. On a month-to-month basis, Niger, Anambra, and Enugu experienced the steepest increases, whereas Edo, Katsina, and Adamawa recorded declines.
The NBS highlighted that the CPI rebasing from 2009 to 2024, with 2023 as the expenditure reference year, contributed to the changes in inflation trends, bringing the index to 128.9 in October, up from 127.7 in September.
