Inflation drops to 16.05% in October
Nigeria’s headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02 percent, the National Bureau of Statistics (NBS) has stated. In its October 2025 inflation report, the NBS said the inflation rate showed a decrease of 1.96% compared to the September 2025 headline inflation rate and on a year-on-year […]
Nigeria’s headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02 percent, the National Bureau of Statistics (NBS) has stated.
In its October 2025 inflation report, the NBS said the inflation rate showed a decrease of 1.96% compared to the September 2025 headline inflation rate and 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.”
It added that 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%).
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“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. For food inflation, the rate was 13.12% on a year-on-year basis.
“This was 26.04% points lower compared to the rate recorded in October 2024 (39.16%). The significant decline in the annual food inflation figure is technically due to the change in the base year. However, on a month-on-month basis, the food inflation rate in October 2025 was -0.37%, up by 1.21% compared to September 2025 (-1.57%).
“The increase can be attributed to the rate of increase in the average prices of Onions (Fresh), Fruits (Oranges, Pineapple), Shrimp, Groundnuts (Unshelled), Vegetables (Ugu, Okazi leaf), and Meat (Goat meat, Cow tail, Liver), among others.”
It added that the average annual rate of food inflation for the twelve months ending October 2025 over the previous Twelve-month average was 21.96%, which was 16.16% points lower compared with the average annual rate of change recorded in October 2024 (38.12%).