Nigeria's Inflation Rate Drops to 16.05% in October, Food Prices Decline

In a significant development, Nigeria's inflation rate decreased to 16.05% in October 2025, down from 18.02% in September. The drop signals a steady slowdown in the country's price pressures, with the latest data showing a month-on-month inflation rate easing by 0.93%.

Notably, food prices recorded a rare decline with a 0.37% month-on-month decrease, providing relief to millions of households grappling with high food costs. Economists suggest that while year-on-year inflation remains elevated, the decline in October indicates the beginning of a sustained downward trend, supported by government policies and supply-side interventions.