Inflation Rate in Nigeria decreased to 22.97 percent in May from 23.71 percent in April 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 21.14 percent in May 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.

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).

Core consumer prices in Nigeria increased 22.28 percent in May 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.

As of June 2023, the food inflation rate in Nigeria stood at around 25.09 percent compared to June 2022. This rate was the highest rate in the period under review. Overall, the food inflation rate in Nigeria followed an increasing trend.

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 July of 2025.

These data are monthly food inflation rates in Nigeria, South Africa, Morocco, Cape Verde, Botswana, and Libya from January 2010 to December 2024.

Zimbabwe had the highest inflation in Africa as of 2023. The rate reached roughly 172 percent when compared to the previous year, according to the source's estimates. This was followed by Sudan, with a rate increase of over 71 percent. Inflationary pressures in the country have been driven by a long-running economic crisis and political instability. By the end of 2021, the already fragile Sudanese economy suffered again when military forces took control of the government. With a

The benchmark interest rate in Nigeria was last recorded at 27.50 percent. This dataset provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Ghana decreased to 13.70 percent in June from 18.40 percent in May of 2025. This dataset provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Consumer Price Index CPI in Nigeria increased to 121.40 points in May from 119.50 points in April of 2025. This dataset provides - Nigeria Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Nigeria expanded 3.84 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of December 30, 2024, the major economy with the highest yield on 10-year government bonds was Turkey, with a yield of ***** percent. This is due to the risks investors take when investing in Turkey, notably due to high inflation rates potentially eradicating any profits made when using a foreign currency to investing in securities denominated in Turkish lira. Of the major developed economies, United States had one the highest yield on 10-year government bonds at this time with **** percent, while Switzerland had the lowest at **** percent. How does inflation influence the yields of government bonds? Inflation reduces purchasing power over time. Due to this, investors seek higher returns to offset the anticipated decrease in purchasing power resulting from rapid price rises. In countries with high inflation, government bond yields often incorporate investor expectations and risk premiums, resulting in comparatively higher rates offered by these bonds. Why are government bond rates significant? Government bond rates are an important indicator of financial markets, serving as a benchmark for borrowing costs, interest rates, and investor sentiment. They affect the cost of government borrowing, influence the price of various financial instruments, and serve as a reflection of expectations regarding inflation and economic growth. For instance, in financial analysis and investing, people often use the 10-year U.S. government bond rates as a proxy for the longer-term risk-free rate.

The transportation sub-index of the CPI basket in Nigeria decreased to 119 points in May of 2025 from 119.30 points in April of 2025. This dataset provides - Nigeria Cpi Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Unemployment Rate in Nigeria decreased to 4.30 percent in the second quarter of 2024 from 5.30 percent in the first quarter of 2024. This dataset provides the latest reported value for - Nigeria Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus 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.

The USD/NGN exchange rate rose to 1,531.5650 on July 14, 2025, up 0.20% from the previous session. Over the past month, the Nigerian Naira has strengthened 0.74%, and is up by 4.28% over the last 12 months. Nigerian Naira - values, historical data, forecasts and news - updated on July of 2025.