Headline inflation declines by 2.1 percentage points in September 2025

According to the Consumer Price Index (CPI) data, Nigeria’s inflationary trend showed notable moderation in September 2025, offering signs of easing price pressures across major categories. The CPI rose slightly to 127.7 points, up from 126.8 in August 2025, indicating a marginal increase in the general price level. Headline inflation eased to 18.02% in September, down from 20.12% in August, reflecting a 2.1 percentage point decline month-on-month. This suggests improved price stability, driven by enhanced food supplies, a tighter monetary policy stance, and exchange rate stabilisation measures by the Central Bank of Nigeria (CBN).
On a year-on-year basis, headline inflation stood at 14.68 percentage points lower than the 32.70% recorded in September 2024, signalling substantial progress in curbing inflationary pressures compared to last year. Similarly, the month-on-month inflation rate stood at 0.72% in September, marginally lower than 0.74% in August. This implies that while prices continued to rise, the pace of increase slowed slightly during the month, indicating a gradual easing of cost pressures.
The sustained decline in inflation reflects the combined impact of improved agricultural output, easing fuel price adjustments, and firmer exchange rate management. If maintained, the trend would support real income recovery and enhance consumer purchasing power. Going forward, consolidating this stability will require maintaining prudent fiscal discipline, strengthening food distribution networks, and sustaining reforms that promote exchange rate stability and productivity growth across sectors.