Inflation drops to 18.02% –NBS

From Isaac Anumihe, Abuja

Inflation rate which began its easing streak since February, has again dropped to 18.02 per cent in September 2025.

Data released by the National Bureau of Statistics (NBS), on Wednesday showed food inflation rate in September 2025 was 16.87 per cent on a year-on-year basis. This was 20.9 per cent points lower compared to the rate recorded in September 2024 (37.77 per cent).

The September 2025 headline inflation rate showed a decrease of 2.1 per cent compared to the August 2025 headline inflation rate.

In addition, 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).

NBS said: “The headline inflation rate (year-on-year basis) decreased in September 2025 compared to the same month in the preceding year though with a different base 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.”

Meanwhile, the significant decline in the annual food inflation figure is technically due to the change in the base year. However, on a month-on-month  basis, the food inflation rate in September 2025 was -1.57 per cent, down by 3.22 per cent compared to August 2025 (1.65 per cent).

The decrease, NBS said, can be attributed to the rate of decrease in the average prices of maize (corn)  grains, garri, beans, millet, potatoes, onions, eggs, tomatoes, fresh pepper etc.

“The average annual rate of food inflation for the twelve months ending September 2025 over the previous twelve-month average was 24.06 per cent, which was 13.47 per cent points lower compared with the average annual rate of change recorded in September 2024 (37.53 per cent)”