Nigeria’s headline inflation rate dropped to 18.02 percent in September 2025, down from 20.12 percent recorded in August, according to the latest data from the National Bureau of Statistics (NBS).
This marks the sixth consecutive month of inflation decline in 2025, indicating a steady moderation in price pressures across key sectors.
The data, contained in the NBS Consumer Price Index (CPI) and Inflation Report released on Tuesday, showed that inflation fell by 0.72 percent on a month-on-month basis, while the food inflation rate recorded a -1.57 percent decline during the same period.
“In September 2025, the headline inflation rate eased to 18.02 per cent relative to the August 2025 inflation rate of 20.12 per cent. The month-on-month headline inflation rate in September 2025 was 0.72 per cent. The food inflation rate was -1.57 per cent month-on-month,” the report stated.
The NBS attributed the drop to slower increases in food and non-food prices, as well as improved supply of certain agricultural commodities.
Meanwhile, Bismark Rewane, Chief Executive Officer of Financial Derivatives Company, in his recent analysis, projected that Nigeria’s inflation rate could further moderate to 18 percent by November 2025.
However, economic analysts have cautioned that the recent rise in fuel and cooking gas prices could reverse the downward trend, potentially putting renewed pressure on household spending and the overall cost of living.