WED OCT 15 2025-theGBJournal| Nigeria’s headline inflation fell sharply by 210bps to 18.02% y/y in September (August: 20.12% y/y), bolstering bets that the economy’s is on track for full rebound by 2026.
The data released by the statistics office, the National Bureau of Statistics (NBS) shows that on a month-on-month basis, consumer prices slowed by 2bps to 0.72% (August: +0.74% m/m).
Analysts tells the G&BJournal that the pace of drop in September validates the Central Bank of Nigeria (CBN) rate cut, and suggest that we may see further cuts in near-term to lower borrowing costs to support the economy and job growth.
The underlying inflation measure- which is seen as a better indicator of economic trends-showed prices dropping at a much better pace since January.
So-called core inflation, which strips out farm produce and energy, eased by 80bps to 19.53% y/y in September (August: 20.33% y/y).
On a month-on-month basis, the core inflation slowed to 1.42% m/m (August: +1.43% m/m).
Besides, food inflation fell by 500bps to 16.87% y/y in the month under review (August: 21.87% y/y) while on a month-on-month basis, the food index declined by 1.57% (August: +1.65% m/m), attributed to the rate of decrease in the average prices of Maize (Corn) Grains, Garri, Beans, Millet, Potatoes, Onions, Eggs, Tomatoes, Fresh Pepper etc.
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