Nigeria’s headline inflation charge slowed to 18.02% in September 2025, marking a decline from 20.12% recorded in August 2025.
That is in keeping with the newest information launched by the Nationwide Bureau of Statistics (NBS).
The September inflation charge decline got here as the most important fall within the final six months, in keeping with the NBS information from April 2025.
On a month-on-month (MoM) foundation, the headline inflation charge stood at 0.72%, reflecting a moderation in worth will increase throughout key sectors.
Which means in September 2025, the speed of enhance within the common worth degree was decrease than the speed of enhance within the common worth degree in August 2025.
“This exhibits that the Headline inflation charge (year-on-year foundation) decreased in September 2025 in comparison with the identical month within the previous yr (i.e., September 2024), although with a distinct base yr, November 2009 = 100,” NBS said.
City vs Rural inflation traits
In response to the NBS report, in September 2025, the city inflation charge was 17.50% which is 17.63% factors low-er in comparison with the 35.13% recorded in September 2024.
On a month-on-month foundation, the city inflation charge stood at 0.74% in September 2025, representing a rise of 0.25 proportion factors from 0.49% recorded in August 2025.
The corresponding twelve-month common for city inflation was 24.35% in September 2025, which is 9.6 proportion factors decrease than the 33.95% recorded in September 2024.
The agricultural inflation charge stood at 18.26% in September 2025 on a year-on-year foundation, representing a lower of 12.23 proportion factors from 30.49% recorded in September 2024.
On a month-on-month foundation, rural inflation was 0.67% in September 2025, reflecting a decline of 0.71 proportion factors from 1.38% recorded in August 2025.
The twelve-month common for rural inflation was 22.08% in September 2025, 7.68 proportion factors decrease than the 29.76% recorded in September 2024.
Meals inflation
The meals inflation charge stood at 16.87% in September 2025 on a year-on-year foundation, representing a pointy decline of 20.9 proportion factors from 37.77% recorded in September 2024. The numerous drop within the annual meals inflation determine is essentially attributed to a change within the base yr, which has adjusted comparative estimates.
The decline was pushed by a discount within the common costs of key meals gadgets corresponding to maize (corn) grains, garri, beans, millet, potatoes, onions, eggs, tomatoes, and contemporary pepper, amongst others.
On a month-on-month (MoM) foundation, the meals inflation charge additionally confirmed a notable enchancment, recording a -1.57% change, indicating that common meals costs fell in September in comparison with the earlier month.
The common annual charge of meals inflation for the twelve months ending September 2025 was 24.06%, which is 13.47 proportion factors decrease than the 37.53% recorded in September 2024.
Core inflation
The core inflation charge, which excludes the costs of risky agricultural merchandise and power, stood at 19.53% in September 2025 on a year-on-year foundation, representing a decline of seven.9 proportion factors from 27.43% recorded in September 2024.
On a month-on-month foundation, the core inflation charge was 1.42% in September 2025, barely decrease by 0.01 proportion factors in comparison with 1.43% recorded in August 2025.
The common twelve-month annual core inflation charge for the interval ending September 2025 was 22.39%, 3.25 proportion factors decrease than the 25.64% recorded in September 2024.
NBS figures affirm consultants’ projection
Earlier, consultants instructed Nairametrics that Nigeria’s inflation charge was anticipated to proceed its downward development in September 2025.
In response to them, the general outlook suggests a light however regular slowdown in shopper costs, a sign of a possible turning level in Nigeria’s inflation-easing cycle.
Equities Dealer and Enterprise Strategist at Rostrum Funding & Securities Ltd, Jessica Ifada forecasts the inflation charge to be round 20.50% to 21.30% in September 2025.
What you need to know
In September, the pump worth of petrol remained regular all through the month, with Dangote Refinery lowering its ex-depot worth to N820/litre from N850/litre in August.
The Central Bank of Nigeria’s (CBN) resolution to carry the Financial Coverage Charge (MPR) at 27.0% continues to anchor inflation expectations and restrict extreme liquidity within the system.
Additionally, the naira appreciated throughout each official and parallel markets, averaging N1,498.38/$ in September in comparison with N1,535.25/$ in August.
Be First to Comment