Nigeria Records First Month-on-Month Food Deflation in Over 13 Years
Nigeria witnessed a historic shift in its inflation dynamics in September 2025, as the National Bureau of Statistics (NBS) reported the country’s first month-on-month food deflation in over 13 years.
According to the latest Consumer Price Index (CPI) data, headline inflation dropped sharply to 18.02%, down from 20.12% recorded in August 2025, marking one of the steepest monthly declines in recent memory.
The major driver behind this decline was the food inflation component, which moderated to 16.87% in September, compared to 21.87% in August.
The month-on-month food inflation rate printed at -1.57%, signaling an actual fall in food prices during the month.
This is the first negative monthly reading since February 2012, when food inflation stood at -0.13%.
Author summary: Nigeria sees first food deflation in 13 years.