Nigeria’s inflation rate has fallen once again, marking its seventh straight month of decline and dropping to 16.05 percent.
The National Bureau of Statistics (NBS) confirmed the latest figures in its Consumer Price Index (CPI) report released on Monday.
The new rate represents a major improvement from the 18.02 percent recorded in September 2025, making it the lowest inflation level Nigeria has seen in over eight years, dating back to 2017.
The report suggests that price pressures across the economy are slowly easing after months of persistent inflation.
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According to the data, the month-on-month headline inflation rate stood at 0.93%, showing a slower pace of price increases compared with previous months.
NBS explained: “In October 2025, the Headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02%. Looking at the movement, the October 2025 Headline inflation rate showed a decrease of 1.96% compared to the September 2025 Headline inflation rate.”
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On a yearly comparison, the bureau added that: “On a year-on-year basis, the Headline inflation rate was 17.82% lower than the rate recorded in October 2024 (33.88%). This shows that the Headline inflation rate (year-on-year basis) decreased in October 2025 compared to the same month in the preceding year (i.e., October 2024), though with a different base.”
Food inflation also slowed for the second consecutive month, easing to 13.2% from 16.9% in September.
Analysts attribute this to improved harvests and a stronger naira, which helped reduce import expenses.
The sustained slowdown in inflation may influence monetary policymakers, who cut interest rates by 50 basis points to 27% in September.
With the Central Bank moving toward an inflation-targeting framework, the softer inflation numbers could create room for another rate reduction when the Monetary Policy Committee meets on November 24 and 25 to decide the benchmark interest rate.
