get latest news from West Africa

Contrary to the feelers in the public space hinting that prices of some food items are going down, the National Bureau of Statistics, NBS, has said that on the average, the prices were going higher in the month of October 2025 as against previous month of September.

But measured against October last year (annualized), the NBS said the prices last month were lower, adding however, that the lower index was due to the adjustment effected by the Bureau in the inflation metrics.

However, the rate of increase in food prices has slowed, according to NBS.

The NBS, in its October Consumer Price Index, CPI, report yesterday, stated: “The Food inflation rate in October 2025 was 13.12 percent on a year-on-year basis. This was 26.04 percentage points lower compared to the rate recorded in October 2024 (39.16 percent).

“The significant decline in the annual food inflation figure is technically due to the change in the base year. However, on a month-on-month basis, the Food inflation rate in October 2025 was -0.37 percent, up by 1.21 percent compared to September 2025 (-1.57 percent).

“The increase can be attributed to the rate of increase in the average prices of onions (Fresh), fruits (oranges, pineapple), shrimp, groundnuts (unshelled), vegetables (ugu, okazi leaf), and meat (goat meat, cow tail, liver), among others.

“The ‘All items less farm produces and energy’ or Core inflation, which excludes the prices of volatile agricultural produces and energy, stood at 18.69 percent in October 2025 on a YoY basis, showing a decline of 9.68 percent when compared to the 28.37 percent recorded in October 2024.”

According to NBS, food inflation on a YoY basis was highest in Ogun (20.85 percent), Nasarawa (19.96 percent), and Ekiti (19.7 percent), while Akwa Ibom (3.98 percent), Katsina (4.15 percent), and Yobe (4.29 percent) recorded the slowest rise in food inflation on a year-on-year basis.

“On a month-on-month basis, how-ever, October 2025 food inflation was highest in Bauchi (6.77 percent), Abuja (5.11 percent), and Niger (4.84 percent), while Katsina (-7.72 percent), Oyo (-5.89 percent), and Taraba (-4.89 percent) recorded a decline in food inflation on a month-on-month basis.”

Meanwhile, the NBS reported that headline inflation eased by 1.97 percentage points to 16.05 percent in October from 18.02 percent in September 2025.

NBS stated: “In October 2025, the Headline inflation rate eased to 16.05 percent relative to the September 2025 headline inflation rate of 18.02 percent.

“Looking at the movement, the October 2025 Headline inflation rate showed a decrease of 1.96 percent compared to the September 2025 Headline inflation rate.

“On a year-on-year basis, the Headline inflation rate was 17.82 percent lower than the rate recorded in October 2024 (33.88 percent).

“This shows that the headline inflation rate (Year-on-Year, YoY, basis) decreased in October 2025 compared to the same month in the preceding year (i.e., October 2024), though with a different base.”

Commenting on the latest inflation figures, analysts at Afrinvest West Africa Limited stated: “The disinflation trend was driven by a sharp moderation in food inflation to 13.1 percent y/y (from 16.9 percent), supported by improved harvests and a firmer Naira, while core inflation also declined for the fourth month to 18.7 percent, the lowest since February 2023.”