The National Bureau of Statistics has announced that Nigeria’s overall inflation rate fell to 16.05 percent in October 2025.
The NBS revealed this in its Consumer Price Index and Inflation Report shared on its verified X (once known as Twitter) account on Monday.
The report indicated that the inflation rate decreased from the 18.02 percent noted in September. Furthermore, it highlighted that, on a month-to-month basis, overall inflation witnessed a rise of 0.93 percent in October.
Additionally, the report exhibited a modest reduction in food prices, with food inflation dipping by 0.37 percent on a month-to-month basis.
The NBS indicated that this figure marks the seventh consecutive month of decline in the nation’s inflation rate this year.
The report highlighted that the year-on-year overall inflation rate was recorded at 17.82 percent, significantly lower than 33.88 percent documented in October 2024.
According to the Bureau, this reflects a decrease in headline inflation when compared to the same month last year, albeit based on a different base year (November 2009).
The report further elaborated, “On a month-to-month basis, the overall inflation rate in October 2025 was 0.93 percent, which is 0.21 percent higher than the rate noted in September 2025 (0.72 percent).
“This signifies that in October 2025, the pace of increase in the average price level was swifter than the pace of increase in the average price level in September 2025.”
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The Bureau noted that the 12-month average urban inflation rate reached 22.68 percent in October 2025, which is 11.84 percentage points lower than the 34.52 percent reported in October 2024.
For rural inflation, the NBS documented a year-on-year rate of 15.86 percent in October 2025—15.73 percentage points lesser than the 31.59 percent recorded in October 2024. Month-on-month, rural inflation eased to 0.45 percent, a decrease of 0.22 percent from the previous month’s 0.67 percent noted in September 2025.
The 12-month average rural inflation rate stood at 20.81 percent in October 2025, which is down by 9.42 percentage points compared to the 30.24 percent documented in October 2024.
The food inflation rate in October 2025 was recorded at 13.12 percent on a year-on-year basis, demonstrating a substantial 26.04 percentage-point reduction from 39.16 percent in October 2024. The NBS pointed out that the dramatic drop in annual food inflation is primarily due to the alteration in the base year.
On a month-to-month basis, food inflation registered at -0.37 percent in October 2025, an increase of 1.21 percentage points compared to the -1.57 percent logged in September 2025.
According to the NBS, the upward shift in the monthly figure was propelled by surges in average prices of various food items, including fresh onions, oranges, pineapples, shrimp, unshelled groundnuts, leafy vegetables like ugu and okazi, as well as assorted meat varieties such as goat meat, cow tail, and liver.
The average annual food inflation rate for the 12 months concluding in October 2025 was 21.96 percent, which is 16.16 percentage points lower than the 38.12 percent recorded in October 2024.
