Nigeria’s inflation rate has fallen once again, marking its seventh straight month of decline and dropping to 16.05 percent, according to the latest Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS).

 

The new figure represents a notable improvement from the 18.02 percent recorded in September 2025, and it brings Nigeria’s inflation to its lowest level in more than eight years, dating back to 2017. The NBS report indicates that price pressures across the economy are gradually easing after an extended period of persistently high inflation.

 

According to the bureau, the month-on-month headline inflation rate stood at 0.93%, reflecting a slower pace of price increases compared to previous months.

 

NBS stated: “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.”

 

On a year-on-year basis, the easing trend is even more pronounced. The bureau explained that “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.”

 

Food inflation also followed the downward path, slowing for the second consecutive month to 13.2%, down from 16.9% in September. Analysts attribute the improvement to better agricultural harvests and a stronger naira, which has helped reduce the cost of imports and eased pressure on food prices.

 

The sustained moderation in inflation could have implications for monetary policy. In September, the Central Bank of Nigeria (CBN) cut its benchmark interest rate by 50 basis points to 27%. With the Bank now moving toward a more explicit inflation-targeting framework, the softer inflation figures may create room for another rate cut when the Monetary Policy Committee (MPC) meets on November 24 and 25.

 

Whether the easing inflation is being felt in the daily lives of Nigerians remains a key question, as many households continue to grapple with high food, energy, and transportation costs despite the official figures.