Consumer Price Index CPI in Nigeria increased to 128.90 points in October from 127.70 points in September of 2025. This dataset provides - Nigeria Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar 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.

Graph and download economic data for Consumer Price Index for Nigeria (DDOE01NGA086NWDB) from 1960 to 2017 about Nigeria, CPI, price index, indexes, and price.

In August 2023, the Consumer Price Index in Nigeria stood at 593.6 points, which was a significant increase compared to 471.8 points in August 2022. Generally, inflation in the country has been constantly increasing in the last months. In fact, Nigeria ranks as one of the countries with the highest inflation rate worldwide.

Consumer price index is a measure that examines the changes in the purchasing power of a currency. It measures changes in the price level of a market basket of consumer goods and services purchased by households. The movement of the Consumer Price Index is the main measure for inflation rates.

Nigeria Consumer Price Index (CPI): Seasonally Adjusted data was reported at 725.798 2010=100 in 2024. This records an increase from the previous number of 551.728 2010=100 for 2023. Nigeria Consumer Price Index (CPI): Seasonally Adjusted data is updated yearly, averaging 67.174 2010=100 from Dec 1987 (Median) to 2024, with 38 observations. The data reached an all-time high of 725.798 2010=100 in 2024 and a record low of 1.192 2010=100 in 1987. Nigeria Consumer Price Index (CPI): Seasonally Adjusted data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.GEM: Consumer Price Index: Annual. The consumer price index reflects the change in prices for the average consumer of a constant basket of consumer goods. Data is in nominal terms and seasonally adjusted.

Graph and download economic data for Inflation, consumer prices for Nigeria (FPCPITOTLZGNGA) from 1960 to 2024 about Nigeria, consumer, CPI, inflation, price index, indexes, and price.

Nigeria NG: Consumer Price Index (CPI): % Change data was reported at 16.524 % in 2017. This records an increase from the previous number of 15.675 % for 2016. Nigeria NG: Consumer Price Index (CPI): % Change data is updated yearly, averaging 10.498 % from Dec 1954 (Median) to 2017, with 64 observations. The data reached an all-time high of 72.836 % in 1995 and a record low of -6.800 % in 1958. Nigeria NG: Consumer Price Index (CPI): % Change data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Nigeria – Table NG.IMF.IFS: Consumer and Producer Price Index: Annual.

Actual value and historical data chart for Nigeria Consumer Price Index 2005 100

Inflation Rate in Nigeria decreased to 16.05 percent in October from 18.02 percent in September of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In September 2023, the Consumer Index Price of food in Nigeria stood at 737.3, increasing from the previous year. Consumer price index is a measure that examines the changes in the purchasing power of a currency. It measures changes in the price level of the market basket of consumer goods and services purchased by households. The movement of the Consumer Price Index is the main measure for inflation rate.

In September 2023, the Consumer Index Price in Nigeria was the highest for food, food and non alcoholic beverages, as well as imported food, and transport.

Consumer price index is a measure that examines the changes in the purchasing power of a currency. It measures changes in the price level of a market basket of consumer goods and services purchased by households. The movement of the Consumer Price Index is the main measure for inflation rates.

Graph and download economic data for Real Effective Exchange Rate as Based on Consumer Price Index for Nigeria (NGAEREERIX) from 2000 to 2024 about Nigeria, consumer prices, REO, exchange rate, consumer, real, rate, and indexes.

Consumer price index of Nigeria shot up by 33.24% from 524.9 index in 2023 to 699.4 index in 2024. Since the 8.05% jump in 2014, consumer price index soared by 379.70% in 2024. Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

Nigeria NG: Consumer Price Index data was reported at 214.232 2010=100 in 2017. This records an increase from the previous number of 183.853 2010=100 for 2016. Nigeria NG: Consumer Price Index data is updated yearly, averaging 0.829 2010=100 from Dec 1953 (Median) to 2017, with 65 observations. The data reached an all-time high of 214.232 2010=100 in 2017 and a record low of 0.055 2010=100 in 1953. Nigeria NG: Consumer Price Index data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Nigeria – Table NG.IMF.IFS: Consumer and Producer Price Index: Annual.

Cost of food in Nigeria increased 13.12 percent in October 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.

Time series data for the statistic Consumer price index (2010 = 100) and country Nigeria. Indicator Definition:Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.The indicator "Consumer price index (2010 = 100)" stands at 699.39 as of 12/31/2024, the highest value at least since 12/31/1961, the period currently displayed. Regarding the One-Year-Change of the series, the current value constitutes an increase of 33.24 percent compared to the value the year prior.The 1 year change in percent is 33.24.The 3 year change in percent is 97.40.The 5 year change in percent is 161.45.The 10 year change in percent is 379.70.The Serie's long term average value is 72.34. It's latest available value, on 12/31/2024, is 866.87 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1960, to it's latest available value, on 12/31/2024, is +1,061,423.38%.The Serie's change in percent from it's maximum value, on 12/31/2024, to it's latest available value, on 12/31/2024, is 0.0%.

Actual value and historical data chart for Nigeria CPI Price Nominal

Nigeria Core Consumer Price Index (CPI): Non Seasonally Adjusted data was reported at 564.613 2010=100 in 2024. This records an increase from the previous number of 448.928 2010=100 for 2023. Nigeria Core Consumer Price Index (CPI): Non Seasonally Adjusted data is updated yearly, averaging 99.924 2010=100 from Dec 1995 (Median) to 2024, with 30 observations. The data reached an all-time high of 564.613 2010=100 in 2024 and a record low of 23.983 2010=100 in 1995. Nigeria Core Consumer Price Index (CPI): Non Seasonally Adjusted data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.GEM: Consumer Price Index: Annual.

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).

Description: This dataset provides a comprehensive overview of monthly inflation rates in Nigeria from March 2003 to June 2024, alongside key economic indicators such as crude oil prices, production levels, and various Consumer Price Index (CPI) components. The data captures important economic trends and is suitable for time series analysis, forecasting, and economic modeling.

The dataset includes the following features:

Inflation Rate: The monthly inflation rate in Nigeria, reflecting the change in consumer prices.

Crude Oil Price: The monthly average price of crude oil, which plays a significant role in Nigeria's economy.

Production and Export: Monthly crude oil production and export figures, representing key components of Nigeria's GDP.

CPI Components: Detailed breakdown of the Consumer Price Index, including food, energy, health, transport, communication, and education.

This dataset is ideal for economists, data scientists, and analysts interested in exploring the dynamics of inflation in a developing economy heavily influenced by oil prices and production. Potential applications include inflation forecasting, economic policy analysis, and studying the impact of global oil prices on domestic inflation.