ABUJA, Oct 15 (The African Portal) – Nigeria’s inflation rate eased to 18.02% in September, down from 20.12% in August, according to new data from the National Bureau of Statistics (NBS).
The decline marks the sixth consecutive month of easing inflation since April 2025 and the first time in three years that the headline rate has fallen below 20%.
The NBS said in its Consumer Price Index (CPI) report on Tuesday that the headline rate dropped by 2.1 percentage points month-on-month. On an annual basis, inflation was 14.68 percentage points lower than in September 2024, when it stood at 32.7%.
Food inflation also slowed sharply, falling to 16.87% in September from 21.87% in August. The bureau attributed the drop to lower average prices for staple items such as maize, beans, millet, potatoes, onions, eggs, tomatoes, and pepper.
On a state-by-state basis, food inflation was highest in Ekiti (28.68%), Rivers (24.18%) and Nasarawa (22.74%), while Bauchi (2.81%), Niger (8.38%) and Anambra (8.41%) recorded the smallest increases.
The NBS said the moderation in inflation reflected a slowdown in price increases and changes in the base year used for comparison.
