Inflation in Nigeria slowed to 14.63% in September — Premium Times Nigeria

In Nigeria, annual inflation slowed to 14.63% in September, compared with 15.39% in August. This continued the trend of slowing consumer price growth: the figure was 15.43% in July, Premium Times Nigeria reports, citing data from the country’s National Bureau of Statistics.

Food prices

Annual food inflation stood at 19.59% in September. This was slightly higher than the 19.57% recorded in August, but lower than the figure for September 2025, when it was 20.16%. The publication notes that food expenses account for a significant share of household budgets, especially for lower-income households.

Core inflation, which excludes volatile prices for agricultural products and energy, declined to 12.95% year on year. It stood at 13.29% in August and 22.11% in September 2025.

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Difference between cities and rural areas

In urban areas, annual inflation stood at 15.64% in September, compared with 20.63% in the corresponding month of 2025. In rural areas, the figure was lower: 12.46%, compared with 21.06% a year earlier.

Despite the slowdown in inflation, the country continues to face a cost-of-living crisis amid high food and energy prices. According to the publication, living standards have been affected by the current administration’s economic reforms, including the removal of fuel subsidies, the devaluation of the naira, and tight monetary policy.