Nigeria’s inflation rate drops to 18.02% in September

The National Bureau of Statistics,  NBS, disclosed this today in its Consumer Price Index, CPI, Report for September 2025.

“In September 2025, the Headline inflation rate eased to 18.02 percent relative to the August 2025 headline inflation rate of 20.12 percent.

“Looking at the movement, the September 2025 Headline inflation rate showed a decrease of 2.1 percent compared to the August 2025 Headline inflation rate.
“In addition, on a year-on-year basis, the Headline inflation rate was 14.68% lower than the rate recorded in September 2024 (32.7 percent).

“ This shows that the Headline inflation rate (year-on-year basis) decreased in September 2025 compared to the same month in the preceding year (i.e., September 2024), though with a  different base year, November 2009 = 100.

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“However, on a month-on-month basis, the Headline inflation rate in September 2025 was 0.72 percent, which was 0.02 percent lower than the rate recorded in August 2025 (0.74 percent).

“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.”

Food inflation also declined by 5.0 percentage points to 16.87 percent in September, compared to 21.87 percent in August 2025, as a result of a decline in the average prices of maize (corn) grains, garri, beans, millet, potatoes, onions, eggs, tomatoes, fresh pepper, etc.

“The Food inflation rate in September 2025 was 16.87 percent on a year-on-year basis.