Nigeria’s inflation rate continued its downward trend in September 2025. Headline inflation dropped to 18.02% year-on-year, down from 20.12% in August. On a monthly basis, Inflation dropped as well to 0.72% from 0.74% in August.
Highlights
Headline CPI (YoY): In September 2025, the Headline CPI recorded 18.02%, from 20.12% recorded in August 2025.
Headline CPI (MoM): On a month-to-month basis, the inflation rate in September 2025 was 0.72%, which was 0.02% lower than the rate recorded in August 2025 (0.74%).
Food Inflation (YoY): Food inflation, a significant driver of overall inflation, fell to 16.87% in September 2025 from 21.87% in August 2025.
Food Deflation (MoM): On a month-on-month basis, September 2025 was -1.57%, down by 3.22% compared to August 2025 (1.65%).
Core CPI (YoY): Core inflation, which excludes volatile agricultural produce and energy prices, stood at 19.53% in September, from 20.33% in August 2025.
Core CPI (MoM): On a month-on-month basis, the Core Inflation rate was 1.42% in September 2025, down by 0.01% compared to August 2025 (1.43%).
