Nigeria’s inflation rate dropped to 18.02 percent in September 2025, down from 20.12 percent in August, according to the latest Consumer Price Index (CPI) Report released by the National Bureau of Statistics (NBS).

This marks the sixth consecutive monthly decline since April 2025 and the first time in three years that inflation has fallen below the 20 percent threshold.

The NBS report stated:

“In September 2025, the headline inflation rate eased to 18.02 percent, reflecting a decrease of 2.1 percentage points from August 2025.”

On a year-on-year basis, the September 2025 inflation rate was 14.68 percent lower than the 32.7 percent recorded in September 2024, indicating a significant improvement over the past year.

Similarly, on a month-on-month basis, inflation stood at 0.72 percent, slightly lower than 0.74 percent in August, suggesting a slower rate of price increases.

Food inflation also declined sharply by 5.0 percentage points, dropping to 16.87 percent in September from 21.87 percent in August. The NBS attributed this to reduced prices of key food items, including maize, garri, beans, millet, potatoes, onions, eggs, tomatoes, and fresh pepper.

According to the report,

“The food inflation rate in September 2025 stood at 16.87 percent year-on-year, reflecting a moderation in the general price level of essential food commodities.”