The latest report by the National Bureau of Statistics (NBS) shows that the nation’s headline inflation rate eased to 16.05% relative to the September 2025 headline inflation rate of 18.02%.
According to the Consumer Price Index (CPI) report released by the Bureau on Monday, the October 2025 Headline inflation rate showed a decrease of 1.96% compared to the September 2025 Headline inflation rate.
On a year-on-year basis, NBS said the Headline inflation rate was 17.82% lower than the rate recorded in October2024 (33.88%).
This shows that the Headline inflation rate (year-on-year basis) decreased in October2025 compared to the same month in the preceding year (i.e., October 2024), though with a different baseyear, November 2009 = 100.
The Bureau said on a month-on-month basis, the Headline inflation rate in October 2025 was 0.93%, which was 0.21%higher than the rate recorded in September 2025 (0.72%).
This means that in October 2025, the rate of increase in the average price level was higher than the rate of increase in the average price level in September 2025.
URBAN INFLATION
On a year-on-year basis, in October 2025, the Urban inflation rate was 15.65%, showing 20.73%points lower compared to the 36.38% recorded in October 2024.
On a month-on-month basis, the Urban inflation rate was 1.14% in October 2025, up by 0.4% compared to September 2025 (0.74%).
Thecorresponding twelve-month average for the Urban inflation rate was 22.68% in October 2025. Thiswas 11.84% points lower compared to the 34.52% reported in October 2024.
RURAL INFLATION
The Rural inflation rate in October 2025 was 15.86% on a year-on-year basis. This was 15.73% pointslower compared to the 31.59% recorded in October 2024.
On a month-on-month basis, the Rural inflation rate in October 2025 was 0.45%, down by 0.22% compared to September 2025 (0.67%).
The corresponding twelve-month average for the Rural inflation rate in October 2025 was 20.81%. This was9.42% points lower compared to the 30.24% recorded in October 2024.
FOOD INFLATION
The Food inflation rate in October 2025 was 13.12% on a year-on-year basis. This was 26.04% pointslower compared to the rate recorded in October 2024 (39.16%).
The significant decline in the annualfood inflation figure, according to NBS, is technically due to the change in the base year.
However, it said on a month-on-monthbasis, the Food inflation rate in October 2025 was -0.37%, up by 1.21% compared to September 2025 (-1.57%).
The increase can be attributed to the rate of increase in the average prices of Onions (Fresh),Fruits (Oranges, Pineapple), Shrimp, Groundnuts (Unshelled), Vegetables (Ugu, Okazi leaf), and Meat(Goat meat, Cow tail, Liver), among others.
The average annual rate of Food inflation for the twelve months ending October 2025 over the previoustwelve-month average was 21.96%, which was 16.16% points lower compared with the average annualrate of change recorded in October 2024 (38.12%).
CORE INFLATION
Core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 18.69% in October 2025 on a year-on-year basis,showing a decline of 9.68% when compared to the 28.37% recorded in October 2024.
On a month-on-month basis, the Core Inflation rate was 1.416% in October 2025, down by 0.001% compared toSeptember 2025 (1.417%)
. The average twelve-month annual inflation rate was 21.61% for thetwelve months ending October 2025, which was 4.51% points lower than the 26.12% recorded inOctober 2024.
