Nigeria Inflation Slows to 18.02 Percent in September, Sixth Month of Decline

Nigeria’s inflation rate continued its decline in September 2025, easing to 18.02 percent from 20.12 percent in August, marking the sixth consecutive monthly drop, the National Bureau of Statistics (NBS) reported.

Food prices also moderated, with food inflation falling to 19.53 percent in September from 21.87 percent in August, supported by improved supply and seasonal harvests.

Economists say the easing inflation may influence monetary policy.

The Central Bank of Nigeria recently cut its benchmark interest rate by 50 basis points to 27 percent—the first reduction since 2020—in a bid to stabilize the economy and work toward single-digit inflation.