From Premium Times Nigeria · Mariya Shuaibu Suleiman · · 2m
Nigeria's Inflation Eases to 14.63% in September
Nigeria's inflation rate drops to 14.63% in September, easing annual pressure.
In brief
Nigeria's inflation rate drops to 14.63% in September, easing annual pressure. Nigeria's headline inflation rate fell to 14.63% in September, down from 15.39% in August, as food inflation remained at 19.59% year-on-year. Originally reported by Premium Times Nigeria.
Nigeria’s inflation rate
Nigeria’s headline inflation rate edged down to 14.63 per cent in September, from 15.39 per cent a month earlier.
Food inflation trends
Food inflation stood at 19.59 per cent year-on-year in September, slightly higher than August’s 19.57 per cent but lower than September 2025’s 20.16 per cent.
Core inflation rate
Core inflation, which excludes volatile items like agricultural produce and energy prices, stood at 12.95 per cent year-on-year in September, down from 13.29 per cent in August.
Urban vs rural inflation
Urban inflation stood at 15.64 per cent year-on-year in September, down from 20.63 per cent in September 2025, while rural inflation was lower at 12.46 per cent year-on-year.
Inflation slowdown
The September data point to a further slowdown in Nigeria’s inflation rate, with annual headline inflation falling for another month.
Cost of living impact
Despite the slowdown in inflationary pressures, Nigeria continues to face a cost-of-living crisis, principally on account of elevated food prices and energy costs.
Economic reforms
The drop in living standards has been fuelled by tough economic reforms introduced by the current administration, including the removal of fuel subsidies, devaluation of the naira and a prolonged hawkish monetary policy stance.
Inflation trends
The divergence between the annual and monthly figures suggests that, although underlying inflation has moderated considerably over the past year, some price pressures persisted during September.
What the figures mean
With annual food inflation still at 19.59 per cent, the September figures show that the pace of food price increases has moderated over the past year, while the average cost of food remains higher than…
Inflation context
The statistics office’s data also reflected differences between inflation in urban and rural areas.
Inflation consequences
The September data point to a further slowdown in Nigeria’s inflation rate, with annual headline inflation falling for another month.
Inflation outlook
Nigeria continues to face a cost-of-living crisis, principally on account of elevated food prices and energy costs, which have hammered the disposable income of many households.
At a glance
Nigeria's headline inflation rate fell to 14.63% in September, down from 15.39% in August, as food inflation remained at 19.59% year-on-year.
