Nigeria’s headline inflation rate eased to 18.02 per cent in September, compared to 20.12 per cent in August, according to the latest data released by the National Bureau of Statistics (NBS) on Wednesday.
The bureau noted that this development marks the sixth consecutive month of deceleration in inflation, signalling a gradual moderation in the pace of rising prices across the country.
According to the NBS report, on a year-on-year basis, the headline inflation rate was 14.68 per cent lower than the rate recorded in September 2024 (32.70 per cent). This shows that the headline inflation rate (year-on-year basis) decreased in September 2025 when compared to the same month in the previous year.
“However, on a month-on-month basis, the Headline inflation rate in September 2025 was 0.72 per cent, which was 0.02 per cent lower than the rate recorded in August 2025 (0.74 per cent). 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,” disclosed part of the report.
Nigeria’s Food and Core Inflation Decline in September 2025
The food inflation rate for September 2025 stood at 16.87 per cent on a year-on-year basis. This represents a 20.9 percentage point decrease compared to the 37.77 per cent recorded in September 2024, reflecting a significant slowdown in food price increases.
Similarly, core inflation (all items less farm produce and energy) was recorded at 19.53 per cent in September 2025 on a year-on-year basis. This figure represents a decline of 7.9 per cent when compared to the 27.43 per cent recorded in September 2024.
