Nigeria’s Inflation Slides to 16.05% in October – NBS

Nigeria’s inflationary trend for the month of October, 2025 has decreased to 16.05 percent as against 18.02 percent recorded in September, according to statistics released by the National Bureau of Statistics (NBS), Monday.

The NBS Consumer Price Index (CPI) report also listed the major drivers of the inflation within year-on-year period to include: Food & Non-Alcoholic Beverages (6.42%), Restaurants and Accommodation Services (2.07%), Transport (1.71%), Housing, Water, Electricity, Gas, and Other Fuels (1.35%), Education Services (1.00%), and Health (0.97%).

NBS report states: “In October 2025, the Headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02%. Looking at the movement, the October 2025 Headline inflation rate showed a decrease of 1.96% compared to the September 2025 Headline inflation rate.

“On a year-on-year basis, the Headline inflation rate was 17.82% lower than the rate recorded in October 2024 (33.88%). This shows that the Headline inflation rate (year-on-year basis) decreased in October 2025 compared to the same month in the preceding year (i.e., October 2024), though with a different base year, November 2009 =100.

“On a month-on-month basis, the Headline inflation rate in October 2025 was 0.93%, which was 0.21% higher than the rate recorded in September 2025 (0.72%). This means that in October 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2025.”

On food inflation, across the states, NBS revealed that in October 2025, food inflation on a Year-on-Year basis was highest in Ogun (20.85%), Nasarawa (19.96%), and Ekiti (19.70%), while Akwa Ibom (3.98%), Katsina (4.15%), and Yobe (4.29%) recorded the slowest rise in Food inflation on a Year-on-Year basis.

However, on a Month-on-Month basis, NBS stated that in October 2025 food inflation was highest in Bauchi (6.77%), Abuja (5.11%), and Niger (4.84%), while Katsina (-7.72%), Oyo (-5.89%), and Taraba (-4.89%) recorded a decline in Food inflation on a Month-on-Month basis.