FX.co ★ Nigeria Inflation Rate Drops to Over 3-1/2-Year Low

In October 2025, Nigeria's annual inflation rate eased to 16.05%, marking the lowest level since March 2022, down from 18.02% in September. This continued the trend of slowing inflation for the seventh month in a row. The most significant factor, food inflation, saw a marked reduction, dropping to 13.12% from 16.87% in the preceding month. This decrease was attributed to the ongoing harvest season and a stronger local currency. On a month-to-month basis, the Consumer Price Index (CPI) increased by 0.9% in October, following a 0.7% rise in September.