JUST-IN: Nigeria’s Inflation Rate Falls to 18.02% in September 2025 as Food Prices Ease

Nigeria’s inflation rate continued its downward trend in September 2025, easing to 18.02% from 20.12% in August, according to the latest data released by the National Bureau of Statistics (NBS). This marks a 2.1-percentage-point decline month-on-month, signaling a gradual relief for consumers amid persistent economic pressures.

On a year-on-year basis, the decrease is even more pronounced. The September 2025 headline inflation rate was 14.68% lower than the 32.70% recorded in September 2024, indicating a significant slowdown in the pace of price increases across the country. Analysts note that this decline is partly influenced by the change in the NBS’s base year, now November 2009 = 100, which affects year-on-year calculations.

Food inflation, a major driver of household expenses, also showed encouraging signs. In September 2025, the food inflation rate stood at 16.87% year-on-year, compared to 37.77% in the same month last year. Month-on-month, food prices even fell slightly by 1.57%, a sharp drop from August’s 1.65%. The decline was attributed to reductions in the prices of staple items such as maize, garri, beans, millet, potatoes, onions, eggs, tomatoes, and fresh peppers.

Despite the positive trends, the NBS reported that the month-on-month headline inflation rate remained slightly positive at 0.72% in September 2025, marginally lower than August’s 0.74%. This suggests that while prices continue to rise, the rate of increase is slowing, providing some relief to consumers and businesses alike.

Economists and market watchers are optimistic that the consistent easing of inflation could boost consumer confidence and stimulate spending. However, they caution that global commodity prices, local supply challenges, and policy measures will continue to play a crucial role in shaping Nigeria’s inflation trajectory in the coming months.

source: Leadership