The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate eased further to 16.05 per cent in October. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for October, which was released in Abuja on Monday. According to the report, the headline inflation showed a decrease to 1.96 per cent compared to the 18.02 per cent recorded in September. The report said on a year-on-year basis, the headline inflation rate was 17.82 per cent lower than the rate recorded in October 2024 at 33.88 per cent. Furthermore, the report said ‘on a month-on-month’, the headline inflation rate in October was 0.93 per cent, which was 0.21 per cent higher than the rate recorded in September at 0.72 per cent.