Nigeria September Inflation Falls to 14.63%
Nigeria's annual inflation slowed to 14.63% in September from 15.39% in August, while core prices rose 1.11% in the month, official data show. The post Nigeria September Inflation Falls to 14.63% appeared first on The Rio Times .
Nigeria's inflation rate fell to 14.63% in September, the lowest since January 2025. The National Bureau of Statistics published the figure on October 15. While food prices dropped by 1.55% from August to September, prices outside food and energy rose faster. Urban inflation stood at 15.64%, while rural inflation was 12.46%, with some areas seeing declines.
Imo state had the highest annual rate at 30.04%, while Taraba state had the lowest at 1.78%. Core inflation, excluding food and energy, decreased to 12.95% from 13.29%. The Central Bank of Nigeria lowered its benchmark rate to 23% from 26.5%, with the next meeting set for November 23-24. The currency's exchange rate remained stable around 1,332 to the US dollar.
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