By Nchetachi Chukwuajah
The news of Nigeria’s headline inflation rate declining to 16.05 per cent in October 2025 has generated reactions from Nigerians.
In comments across various social media platforms, some Nigerians have stressed that the lower rate of inflation is yet to be felt in the prices of goods and services.
They noted that beyond the statistics on paper, the impact of the declining inflation rate should be reflected in the pockets and purchasing power of Nigerians.
The National Bureau of Statistics (NBS), in its Consumer Price Index (CPI) and Inflation Report released on its verified X (formerly Twitter) handle on Monday, November 17, stated that the inflation rate fell from 18.02 per cent in September to 16.05 per cent in October.
The NBS added that on a month-on-month basis, headline inflation rose by 0.93 per cent in October, with food inflation declining by 0.37 per cent month-on-month.
It stated that the figure represents the seventh consecutive month of decline in the country’s inflation rate this year.
The report noted that the year-on-year headline inflation rate stood at 17.82 per cent, a decline from the 33.88 per cent recorded in October 2024.
According to the Bureau, this indicates that headline inflation decreased compared to the same month last year, though based on a different base year (November 2009).
The NBS stated that on a year-on-year basis, the food inflation rate stood at 13.12 per cent in October 2025, representing a 26.04 percentage-point decline from the 39.16 percent recorded in October 2024.
The NBS attributed the significant drop in the annual food inflation figure to the change in the base year.
On a month-on-month basis, food inflation stood at -0.37 per cent in October 2025, an increase of 1.21 percentage points compared to the -1.57 per cent recorded in September 2025.
According to the NBS, the increase in the monthly figure was driven by increases in the average prices of several food items, including fresh onions, oranges, pineapples, shrimp, unshelled groundnuts, vegetables such as ugu and okazi leaves, and various types of meat such as goat meat, cow tail, and liver.
The NBS further stated that the urban inflation rate in October 2025 stood at 15.65 per cent, a 20.73 percentage-point drop from the 36.38 per cent recorded in October 2024.
On a month-on-month basis, urban inflation increased to 1.14 per cent in October 2025, a 0.40 per cent rise compared to the 0.74 per cent recorded in September 2025.
The Bureau added that the 12-month average urban inflation rate was 22.68 per cent in October 2025, an 11.84 percentage points decline from the 34.52 per cent reported in October 2024.
For rural inflation, the NBS reported a year-on-year rate of 15.86 percent in October 2025, representing a 15.73 per cent decline from the 31.59 per cent recorded in October 2024.
On a month-on-month basis, rural inflation stood at 0.45 per cent, a decline of 0.22 per cent from the 0.67 per cent recorded in September 2025.
Reacting to the news, some Nigerians stated that until the ease in inflation rate is reflected in the prices of goods and services, it may well be audio deflation.
Commenting on Facebook, Akukini Timothy Samson wrote, “Audio. Make we see am for real no be for book.”
Mark Maida added, “This is supposed to be good news but we have to experience it for the joy to be complete o, otherwise dis one na audio something.”
Mustapha Qudus noted, “Then prices of goods and services should drop also, that’s how it would turn to a real breaking news.”
Sandy Sabu Kude wrote, “Let it translate to the economy of the average Nigerian before we take the figure seriously.”
The sentiments were not different on X (formerly Twitter), where @oneolajire said, “Na statistics we go chop? Don drop stats.”
@Chief_Ajiji tweeted, “Dropping inflation by circa 200 basis points with no corresponding change in MPR and other metrics clearly indicates voodoo economics.”
@LovedCarefully added, “If e sure for government, this should correspond with MPR.”
@victor_vianney wrote, “There is just so much that we can do with propaganda when reality keeps hitting hard. We will revisit this in no time as usual …Lol.”
