Nigeria’s inflation rate continued its downward trend in October 2025, dropping to 16.05 per cent from the 18.02 per cent recorded in September, the National Bureau of Statistics (NBS) revealed in its latest Consumer Price Index report released on Monday.
The data shows that the country has now experienced seven straight months of easing inflation, beginning in April 2025.
Year-on-year, the October figure represents a significant 17.82 per cent decline from the 33.88 per cent recorded in October 2024.
However, on a month-on-month basis, headline inflation stood at 0.9 per cent—slightly higher than September’s 0.72 per cent.
According to the NBS, food inflation was 13.12 per cent year-on-year in October 2025, a sharp drop of 26.04 percentage points compared to the 39.16 per cent posted in October 2024.
The bureau explained that the marked decline is partly due to adjustments in the base year.
Month-on-month food inflation, however, rose to -0.37 per cent, an increase of 1.21 percentage points from the -1.57 per cent recorded in September 2025.
The rise is attributed to higher average prices of items such as onions, oranges, pineapple, shrimp, groundnuts, vegetables like ugu and okazi leaf, and proteins including goat meat, cow tail, and liver.
On an annualised basis, the average food inflation rate for the 12 months ending October 2025 was 21.96 per cent—16.16 percentage points lower than the 38.12 per cent average reported for the same period in 2024.
Urban inflation eased to 15.65 per cent year-on-year in October 2025, dropping by 20.73 percentage points from 36.38 per cent in October 2024.
Month-on-month urban inflation rose to 1.14 per cent, up from the 0.74 per cent recorded in September.
The 12-month average urban inflation rate was 22.68 per cent, down from 34.52 per cent in October 2024.
Rural inflation also moderated, standing at 15.86 per cent year-on-year in October 2025, compared with 31.59 per cent the previous year.
On a month-on-month basis, rural inflation slowed to 0.45 per cent from 0.67 per cent in September.
The annualised rural inflation average for the period was 20.81 per cent—9.42 percentage points lower than the 30.24 per cent recorded in October 2024.
