The inflation rate dropped to 16.05% in October 2025, down from 18.02% in September. This marks the 7th consecutive monthly decline, according to the National Bureau of Statistics (NBS). Here’s the breakdown:
Key Highlights:
– Annual Drop: 17.82% lower than October 2024 (33.88%).
– Urban vs. Rural:
– Urban: 15.65% (vs. 36.38% in Oct 2024).
– Rural: 15.86% (vs. 31.59% in Oct 2024).
– Food Inflation: 13.12% (down from 16.87% in Sept).
– Month-on-Month: 0.93% (up 0.21% from Sept’s 0.72%).
– Drivers: Softer food prices (maize, garri, eggs), improved logistics, and forex stability.
The Central Bank’s reforms (led by Olayemi Cardoso) and a $43.53B reserve (11-year high) are boosting confidence. While annual inflation eases, short term pressures persist.
