Nigeria’s Inflation Rate Drops to 18%

The National Bureau of Statistics (NBS) has announced that Nigeria’s inflation rate dropped to 18.02 percent in September 2025.

The NBS made this known via its Consumer Price Index (CPI) report released on Wednesday, October 15, 2025.

The NBS said the headline inflation showed a decrease of 2.1 per cent compared to the 20.12 per cent recorded in August 2025.

The bureau said on a year-on-year basis, the headline inflation rate was 14.68 per cent lower than the rate recorded in September 2024 at 32.70 per cent.

It added: “On a month-on-month, the headline inflation rate in September 2025 was 0.72 per cent, which was 0.02 per cent lower than the rate recorded in August 2025 at 0.74 per cent.

“This means that in September 2025, the rate of increase in the average price level was lower than the rate of increase in the average price level in August 2025.”

The NBS attributed the decline to falling food prices and easing inflationary pressures in rural and urban areas.

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On a month-to-month basis, inflation stood at 0.72%, slightly lower than 0.74% in August.

Food inflation also fell sharply to 16.87%, down from 37.77% a year earlier, driven by lower prices of staples such as maize, garri, beans, millet, potatoes, tomatoes, and pepper.

Core inflation, which excludes volatile farm produce and energy, stood at 19.53%, slightly down from 19.54% in August.

Among states, Adamawa (23.69%), Katsina (23.53%), and Nasarawa (22.29%) recorded the highest inflation rates, while Anambra (9.28%), Niger (11.79%), and Bauchi (12.36%) had the lowest.

The NBS noted that the CPI rebased index rose to 127.7 in September, up from 126.8 in August, reflecting moderate growth in overall price levels.

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