Inflation Rate Declines to 18%, Food Price Changes Lowest in 10 States

• The NBS has revealed that Nigeria’s inflation rate continued its downward trend in September
• Data from the NBS showed that both headline and food inflation rates eased year-on-year and month-on-month
• Headline inflation was lowest in Anambra, Niger, and Bauchi states, while food inflation was lowest in Bauchi, Niger, and Anambra

Legit.ng journalist Dave Ibemere brings over a decade of experience in business journalism, with deep expertise in the Nigerian economy, financial markets, and stock trends.

The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation rate eased to 18.02% in September 2025, marking a 2.1 percentage point decline from 20.12% recorded in August 2025.

Data from the latest Consumer Price Index (CPI) report for September showed that both headline and food inflation rates fell year-on-year and month-on-month.

Inflation numbers

On a year-on-year basis, headline inflation was 14.68 percentage points lower than the 32.70% recorded in September 2024, indicating a significant moderation compared to the same period last year.

Read also

Naira tumbles against dollar, exchange rate gap between official, black market now N20

On a month-on-month basis, headline inflation stood at 0.72%, slightly below 0.74% recorded in August 2025, showing that the rate of increase in average prices slowed during the month.

Food Inflation

The food inflation rate in September 2025 was 16.87% (year-on-year), representing a 20.9 percentage point decline from 37.77% in September 2024.

• Year-on-year: 16.87% (September 2025) vs 37.77% (September 2024)
• Month-on-month: -1.57%, down from 1.65% recorded in August 2025

According to NBS, the inflation figures in September were driven by lower prices of key staples, including maize, garri, beans, millet, potatoes, onions, eggs, tomatoes, and fresh pepper.

The average annual food inflation rate for the twelve months ending September 2025 stood at 24.06%, down by 13.47 percentage points from 37.53% in September 2024.

Core Inflation

The Core Inflation rate, which excludes volatile agricultural produce and energy, stood at 19.53% in September 2025 (year-on-year), a 7.9 percentage point decrease from 27.43% in September 2024.

Read also

Dutch tech giant ASML posts stable profits, warns on China sales

On a month-on-month basis, core inflation was 1.42%, slightly below the 1.43% recorded in August 2025.

The average twelve-month annual core inflation rate was 22.39% for the period ending September 2025, compared to 25.64% in September 2024, a 3.25 percentage point decline.

Summary of inflation figures

Headline Inflation by State

Highest (year-on-year):

Lowest (year-on-year)==

• Anambra – 9.28%
• Niger – 11.79%
• Bauchi – 12.36%

Month-on-month:

• Highest increases: Zamfara (9.36%), Adamawa (8.15%), Nasarawa (7.49%)
• Declines: Niger (-8.14%), Oyo (-5.56%), Bayelsa (-4.61%)

Food Inflation by State

10 States with the Lowest Food Inflation (Year-on-Year):

1. Bauchi – 2.81%
2. Niger – 8.38%
3. Anambra – 8.41%
4. Benue – 8.60%
5. Akwa Ibom – 9.00%
6. Abuja – 11.00%
7. Plateau – 11.20%
8. Jigawa – 12.10%
9. Yobe – 12.80%
10. Imo – 12.40%

Source: Legit.ng