Nigeria’s headline inflation rate slowed to 18.02% in September 2025, a decline from 20.12% recorded in August 2025, the National Bureau of Statistics (NBS), said in its latest report on Wednesday.

On a month-on-month (MoM) basis, the headline inflation rate stood at 0.72%, reflecting a moderation in price increases across key sectors.

The NBS stated that food inflation rate also showed a notable improvement, recording a -1.57% MoM change — indicating that average food prices declined in September compared to the previous month.

Inflation had peaked near 35% in December before the statistics office revised its base year and adjusted the weighting of items in its price basket earlier this year.

The Central Bank of Nigeria had cut its benchmark interest rate for the first time since 2020 last month, citing projections for continued disinflation.

Mr Olayemi Cardoso, the apex bank’s governor said the bank was targeting single-digit inflation and would maintain a data-driven approach to monetary policy.