Inflation Rate in Nigeria decreased to 20.12 percent in August from 21.88 percent in July of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cost of food in Nigeria increased 21.87 percent in August of 2025 over the same month in the previous year. This dataset provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria’s inflation has been higher than the average for African and Sub-Saharan countries for years now, and even exceeded 16 percent in 2017 – and a real, significant decrease is nowhere in sight. The bigger problem is its unsteadiness, however: An inflation rate that is bouncing all over the place, like this one, is usually a sign of a struggling economy, causing prices to fluctuate, and unemployment and poverty to increase. Nigeria’s economy - a so-called “mixed economy”, which means the market economy is at least in part regulated by the state – is not entirely in bad shape, though. More than half of its GDP is generated by the services sector, namely telecommunications and finances, and the country derives a significant share of its state revenues from oil.

Because it got high

To simplify: When the inflation rate rises, so do prices, and consequently banks raise their interest rates as well to cope and maintain their profit margin. Higher interest rates often cause unemployment to rise. In certain scenarios, rising prices can also mean more panicky spending and consumption among end users, causing debt and poverty. The extreme version of this is called hyperinflation: A rapid increase of prices that is out of control and leads to bankruptcies en masse, devaluation of money and subsequently a currency reform, among other things. But does that mean that low inflation is better? Maybe, but only to a certain degree; the ECB, for example, aspires to maintain an inflation rate of about two percent so as to keep the economy stable. As soon as we reach deflation territory, however, things are starting to look grim again. The best course is a stable inflation rate, to avoid uncertainty and rash actions.

Nigeria today

Nigeria is one of the countries with the largest populations worldwide and also the largest economy in Africa, with its economy growing rapidly after a slump in the aforementioned year 2017. It is slated to be one of the countries with the highest economic growth over the next few decades. Demographic key indicators, like infant mortality rate, fertility rate, and the median age of the population, all point towards a bright future. Additionally, the country seems to make big leaps forward in manufacturing and technological developments, and boasts huge natural resources, including natural gas. All in all, Nigeria and its inflation seem to be on the upswing – or on the path to stabilization, as it were.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Nigeria was 3.89 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 3.96 percent. Compared to a year ago, we see a decrease from the inflation...

The Consumer Price Index in Nigeria increased 1.99 percent in July of 2025 over the previous month. This dataset provides - Nigeria Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation, monthly percent change in the CPI in Nigeria, April, 2025 The most recent value is 1.86 percent as of April 2025, a decline compared to the previous value of 3.9 percent. Historically, the average for Nigeria from February 1995 to April 2025 is 1.17 percent. The minimum of -3.51 percent was recorded in August 1999, while the maximum of 8.98 percent was reached in April 1995. | TheGlobalEconomy.com

The average inflation rate in the Nigeria was forecast to continuously decrease between 2023 and 2028 by in total 6.1 percentage points. The average inflation rate is estimated to amount to 14 percent in 2028.Following the definitions provided by the International Monetary Fund, this indicator measures inflation based upon the year on year change in the average consumer price index. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services. Depicted here is the year-on-year change in said index measure, expressed in percent.Find more key insights for the average inflation rate in countries like Senegal, Mali and Cote D'Ivoire.

Urban versus rural inflation disparity Comparing rural to urban areas in Nigeria showed that inflation was slightly worse in urban areas, with a difference of close to one percent in 2022. Other economic indicators reveal that inflation had a severe impact on the prices of consumer goods. Moreover, the Consumer Index Price of food in Nigeria in 2022 was 590.2. The food products with the highest percentage change in price was beans with 40 percent and over, depending on the color. That was followed by beef articles with 34 to close to 37 percent, depending on the part.

Fuel price surges: a closer look at diesel price fluctuations in Nigeria Another area that saw a dramatic spike in prices was fuel prices. In February 2023, there was a 0.98 percent rise in the cost of diesel in Nigeria when compared to January 2023. The most substantial surge occurred in March 2022. During that month, the average price of diesel surged by nearly 73 percent in contrast to the preceding month. This sharp escalation was attributed to a worldwide deficit in fuel supply and difficulties in the supply chain, which was prompted by the conflict in Ukraine and regulations implemented to control the transmission of COVID-19. Furthermore, consumers in Nigeria faced an average diesel price of 836.91 Nigerian naira (NGN), approximately 1.82 U.S. dollars, per liter. The North-Central States of Nigeria displayed the most elevated prices, with consumers in this region paying an average of 850.65 NGN per liter, roughly 1.85 U.S. dollars. During this specific timeframe, Osun emerged as the State with the highest price across Nigeria, as diesel prices reached a pinnacle of 707 NGN (equivalent to 1.7 U.S. dollars).

Inflation, consumer prices (annual %) in Nigeria was reported at 33.24 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Inflation, consumer prices (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Nigéria was 3.89 pour cent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 3.96 pour cent. Compared to a year ago, we see a decrease from...

Inflation rate of Nigeria improved by 0.65% from 34.6 % in 2024M11 to 34.9 % in 2024M12. Since the 3.63% reduction in 2024M8, inflation rate surged by 8.69% in 2024M12.

Core consumer prices in Nigeria increased 20.30 percent in August of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Nigeria Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Nigeria Consumer Price Index CPI growth

• Nigeria Consumer Price Index (CPI) growth was measured at 23.2 % YoY in Feb 2025, compared with a rate of 24.5 % in the previous month.
• Nigeria Consumer Price Index growth data is updated monthly, available from Jan 1961 to Feb 2025, with an averaged number of 12.6 % YoY.
• The data reached an all-time high of 89.6 % YoY in Jun 1995 and a record low of -7.8 % YoY in Oct 1967.

CEIC calculates Consumer Price Index Growth from monthly Consumer Price Index. The National Bureau of Statistics provides Consumer Price Index with base 2024=100. Consumer Price Index Growth prior to January 1996 is sourced from the International Monetary Fund.

Inflation, monthly percent change in the CPI in Nigéria, avril, 2025 Pour cet indicateur, Central Bank of Nigeria fournit des données pour la Nigéria de février 1995 à avril 2025. La valeur moyenne pour Nigéria pendant cette période était de 1.17 pour cent avec un minimum de -3.51 pour cent en août 1999 et un maximum de 8.98 pour cent en avril 1995. | TheGlobalEconomy.com

Inflation, GDP deflator: linked series (annual %) in Nigeria was reported at 14.45 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on September of 2025.

Im Jahr 2024 hat die durchschnittliche Inflationsrate in Nigeria rund 33,2 Prozent betragen. Für das Jahr 2025 wird die durchschnittliche Inflationsrate in Nigeria auf rund 26,4 Prozent prognostiziert. Die Statistik zeigt die durchschnittliche Inflationsrate in Nigeria im Zeitraum 1996 bis 2024 und Prognosen bis zum Jahr 2030. Die durchschnittliche Inflationsrate in Nigeria wird laut Prognosen zwischen 2025 und 2030 kontinuierlich um insgesamt 16,5 Prozentpunkte sinken. Nach dieser Prognose soll die durchschnittliche Inflationsrate im Jahr 2030 zum vierten Mal in Folge auf zehn Prozent gesunken sein. Die Inflationsrate bildet Veränderungen der Kosten für einen festgelegten Warenkorb ab, der eine repräsentative Auswahl an Waren und Dienstleistungen enthält. Sie wird aus dem Verbraucherpreisindex (VPI) abgeleitet.Hier können Sie weitere Einblicke bezüglich der durchschnittlichen Inflationsrate in Liberia, Togo und Senegal finden.

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2024, the inflation rate in Bangladesh amounted to about 9.73 percent compared to the previous year. For the next few years, inflation in Bangladesh is forecast to stay around 5.5 percent. Up-and-coming Bangladesh Bangladesh is a mixed economy on the rise, with a soaring gross domestic product (GDP) and steady economic growth. While its unemployment has increased slightly since 2010, it seems to rest comfortably below the 4.4-percent mark. Employment is shifting from agriculture to services – the main GDP generator of the country. One of the Next Eleven Bangladesh is a fast-growing emerging economy and a member of the so-called Next Eleven – eleven nations with promising economic developments that puts them almost on eye level with the four BRIC states. Both terms were coined by economist Jim O’Neill and describe the major emerging economies today, taking aspects like macroeconomic stability, openness of trade, and standard of living into account. Other members of the Next Eleven are Egypt, Indonesia, Mexico, and Nigeria, among others.

Consumer Price Index CPI in Nigeria increased to 126.80 points in August from 125.90 points in July of 2025. This dataset provides - Nigeria Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The transportation sub-index of the CPI basket in Nigeria increased to 125.10 points in August of 2025 from 121.90 points in July of 2025. This dataset provides - Nigeria Cpi Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

At **** U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2025 Big Mac index. Concurrently, the cost of a Big Mac was **** dollars in the U.S., and **** U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Is the Big Mac index a good measure of purchasing power parity? Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries, the U.S. has the largest economy.