Nigeria's Inflation Rate Drops to 16.1%, Fueling Rate Cut Expectations
Nigeria's inflation rate decreased to 16.1% in October 2025, marking the seventh consecutive monthly decline. This sharp slowdown, below economists' expectations, has raised hopes for a substantial reduction in the Central Bank of Nigeria's benchmark rate.
The drop was driven by a broad-based decline in food inflation, which fell to 13.1% year-on-year. Despite positive trends like the ongoing harvest season and exchange rate stability, risks such as festive season demand and external shocks remain.
Analysts are optimistic about a potential rate cut at the upcoming Monetary Policy Committee meeting.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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