Nigeria’s inflation rate dropped to 16.05% in October according to new NBS data.
The report showed monthly prices still increased slightly even as overall inflation continued easing.
Nigeria’s inflation rate continued its downward trend in October 2025, dropping to 16.05% from the 18.02% recorded in September. This is according to the latest Consumer Price Index report released by the National Bureau of Statistics.
The new figure shows a decline of 1.96 percentage points and marks the seventh straight month that the country has recorded a slowdown in inflation. The trend began in April 2025 and has continued as authorities work to stabilize the economy and improve supply conditions.
While the yearly inflation rate eased, the report showed that prices still rose slightly on a monthly basis. Headline inflation increased by 0.93% in October compared to the previous month. This means many households still felt some pressure in the cost of goods and services even as the overall rate improved.
Food inflation also showed a mild improvement. The NBS noted a 0.37% drop in food prices month on month, reflecting small gains in the availability of key items in some markets.
