Nigeria’s inflation rate declines to 18.02% in September — NBS

According to the recent Consumer Price Index (CPI) Report from the National Bureau of Statistics (NBS), Nigeria’s inflation rate fell to 18.02 percent in September 2025, down from August’s 20.12 percent.

This marks the sixth straight month of decline since April 2025 and is the first instance in three years that inflation has dropped below the 20 percent mark.

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The NBS highlighted: “In September 2025, the headline inflation rate decreased to 18.02 percent, reflecting a reduction of 2.1 percentage points compared to August 2025.”

When looking at the year-on-year statistics, the September 2025 inflation rate was 14.68 percent lower than the 32.7 percent seen in September 2024, showing notable progress over the last year.

On a monthly basis, inflation was recorded at 0.72 percent, a slight decrease from 0.74 percent in August, indicating a slower pace of price increases.

Food inflation also experienced a significant drop, decreasing by 5.0 percent, dropping to 16.87 percent in September from 21.87 percent in August. The NBS attributed this to reduced prices of key food items, including maize, garri, beans, millet, potatoes, onions, eggs, tomatoes, and fresh pepper.

According to the report, “The food inflation rate in September 2025 stood at 16.87 percent year-on-year, reflecting a moderation in the general price level of essential food commodities.”