Nigeria’s Inflation Rate Eases to 16.05 % in October 2025
Nigeria’s inflation rate has eased once again, settling at 16.05 per cent in October 2025, according to fresh figures from the National Bureau of Statistics released on Monday. The latest drop extends a remarkable seven-month run of declining inflation—an arc many had thought impossible only a year ago when prices were spiraling above 33 per cent. On a year-on-year comparison, inflation now stands at 17.82 per cent, sharply lower than the figure recorded in October last year. Month-on-month, however, there was a slight rise of 0.93 per cent, a reminder that price pressures remain alive beneath the surface even as the headline figures soften. Urban inflation for the period was placed at 15.65 per cent, slightly below rural inflation, which came in at 15.86 per cent. Food inflation, the metric most closely watched by households and policymakers, dipped to 13.12 per cent year-on-year, down dramatically from levels previously considered alarming. There was even a mild contraction in month-on-month food inflation, hinting at some early relief in market prices. Economists point to improving harvests, steadier exchange rates, and more predictable energy supply as core drivers of this decline. A recent re-basing of the Consumer Price Index, shifting its foundation from a 2009 basket to a 2024 one, has also reshaped the statistical landscape and influenced the pace of decline. Though the numbers offer a measure of breathing space, analysts caution against premature celebration. Prices are still rising, only at a slower rate, and the cost of living remains a strain for millions. But the trend has ignited fresh speculation over whether the Central Bank of Nigeria might finally loosen its grip on interest rates at its next meeting later this month. In economic terms, it is the kind of moment that feels like a pause between breaths. The country knows the storm hasn’t fully passed, but the silence that follows a long thunderclap can sound like hope.
| 2025-11-18 09:09:09