MON NOV 17 2025-theGBJournal| Nigeria’s headline inflation fell sharply by 196bps to 16.05% y/y in October (September: 18.02% y/y), according to Consumer Price Index (CPI) data released today by the National Bureau of Statistics (NBS).
The headline inflation was restrained by a slowdown in the pace of price increases for food, keeping the Central Bank of Nigeria (CBN) on track to cut interest again in their next policy meeting.
However, the NBS data shows that consumer prices on month-on-month basis, rose by 21bps to 0.93% (September: +0.72% m/m), reflecting cost pressures in core components.
Food inflation also decreased sharply, by 375bps to 13.12% y/y in October (September: 16.87% y/y).
On a month-on-month basis, the food index declined at a slower pace by 0.37% (September: -1.57% m/m), attributed to the rate of decrease in the average prices of Onions (Fresh), Fruits (Oranges, Pineapple), Shrimp, Groundnuts (Unshelled), Vegetables (Ugu, Okazi leaf), and Meat (Goat meat, Cow tail, Liver), etc.
Elsewhere, core inflation (all items excluding farm produce and energy) eased by 84bps to 18.69% y/y in October (September: 19.53% y/y).
On a month-on-month basis, the core inflation steadied at 1.42% m/m (September: +1.42% m/m).
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
