Nigeria’s headline inflation rate eased to 18.02% in September 2025, down from 20.12% in August, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS).
The CPI rose to 127.7 points, representing a 0.9-point increase from the previous month. NBS attributed the slowdown in inflation to lower food prices and reduced cost pressures in some key sectors.
The major contributors to headline inflation were Food and Non-Alcoholic Beverages (7.21%), Restaurants and Accommodation Services (2.33%), and Transport (1.92%), while Recreation, Alcoholic Beverages, and Financial Services recorded minimal impacts.
On a month-on-month basis, inflation stood at 0.72%, slightly lower than 0.74% in August.
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Food inflation eased to 16.87% year-on-year, helped by declining prices of maize, garri, beans, millet, potatoes, tomatoes, onions, and pepper, offering some respite to households and small businesses struggling with high food costs.
Core inflation, which excludes volatile items, was 19.53%, marginally lower than in August, reflecting some price stability in non-food sectors.
Across states, Adamawa (23.69%), Katsina (23.53%), and Nasarawa (22.29%) recorded the highest inflation, while Anambra (9.28%), Niger (11.79%), and Bauchi (12.36%) saw the lowest rates.
Food inflation remained highest in Ekiti (28.68%), Rivers (24.18%), and Nasarawa (22.74%), while Bauchi, Niger, and Anambra experienced slower increases.
Analysts say the moderation in prices, especially for staple foods, could provide temporary relief for small and medium-scale enterprises (SMEs) in the food value chain and the informal economy, although rising input costs remain a concern.
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