Nigeria Inflation Rate  1996-2016 | Data | Chart | Calendar | Forecast

Consumer prices in Nigeria increased 12.8 percent year-on-year in March of 2016, following a 11.4 percent jump in the previous month. It was the highest figure since July 2012, mainly boosted by food prices. On a monthly basis, consumer prices went up 2.2 percent, slowing from a 2.3 percent rise in February. Inflation Rate in Nigeria averaged 12.11 percent from 1996 until 2016, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. Inflation Rate in Nigeria is reported by the National Bureau of Statistics, Nigeria.

Nigeria Inflation Rate
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Actual Previous Highest Lowest Dates Unit Frequency
12.80 11.40 47.56 -2.49 1996 - 2016 percent Monthly
2009=100
In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are Food and Non Alcoholic Beverages (51.8 percent of total weight); Housing, Water, Electricity, Gas and Other Fuel (16.7 percent) and Clothing and Footwear (7.7 percent). Transports account for 6.5 percent of total index and Furnishings and Household Equipment Maintenance for 5 percent. Education represents 3.9 percent of total weight, Health 3 percent, Miscellaneous Goods and Services 1.7 percent and Restaurants and Hotels 1.2 percent. Alcoholic Beverages, Tobacco and Kola account for 1.1 percent of total index, Communications for 0.7 percent and Recreation and Culture for the remaining 0.7 percent. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-14 12:00 PM Jan 9.6% 9.6% 9.67% 9.7%
2016-03-15 12:00 PM Feb 11.4% 9.6% 10% 9.8%
2016-04-12 10:00 AM Mar 12.8% 11.4% 11.7%
2016-05-18 10:00 AM Apr 12.8% 11.6%
2016-06-18 10:00 AM May 11.7%
2016-07-16 09:00 AM Jun 11.8%

Nigeria Inflation Rate at Nearly 4-Year High


Consumer prices in Nigeria increased 12.8 percent year-on-year in March of 2016, following a 11.4 percent jump in the previous month. It was the highest figure since July 2012, mainly boosted by food prices.

Year-on-year, food cost made the biggest upward contribution (prices increased 12.7 percent following an 11.3 percent rise in February). Additional upward pressure came from cost of housing, water, electricity and gas (15.9 percent from 13.9 percent in February) ; clothing and footwear (12.0 percent from 10.6 percent); transport (13.2 percent from 11.5 percent); furnishings and household equipment (9.1 percent from 8 percent); education (12.9 percent from 12.1 percent); health (8.9 percent from 8.6 percent); miscellaneous goods and services (10.3 percent from 9.5 percent) and alcoholic beverages, tobacco and kola (10.9 percent from 9.9 percent). Prices of restaurants and hotels increased by 8.7 percent slowing slightly from an 8.9 percent rise in February.

Annual core inflation rate increased to 12.2 percent from 11 percent in the previous month.

On a monthly basis, consumer prices went up 2.2 percent, slowing  from a 2.3 percent rise in February, mainly driven by cost of food (+2.3 percent); housing, water, electricity and gas (+2.4 percent) and clothing and footwear both (+2.2 percent). 

National Bureau of Statistics | Mojdeh Kazemi | mojdeh@tradingeconomics.com
4/12/2016 1:17:01 PM

Nigeria Prices Last Previous Highest Lowest Unit
Inflation Rate 12.80 11.40 47.56 -2.49 percent [+]
Consumer Price Index CPI 189.94 185.89 189.94 14.36 Index Points [+]
Core Consumer Prices 186.42 183.03 186.42 69.00 Index Points [+]
Core Inflation Rate 12.20 11.00 19.28 0.49 percent [+]
Food Inflation 12.70 11.30 39.54 -17.50 percent [+]
Inflation Rate Mom 2.20 2.30 8.93 -3.50 percent [+]
GDP Deflator 139.91 135.25 139.91 0.60 Index Points [+]
Cpi Transportation 184.54 180.35 184.54 68.50 Index Points [+]




Last
Afghanistan 3.85 Mar/16
Albania 0.30 Mar/16
Algeria 3.04 Feb/16
Angola 23.60 Mar/16
Argentina 32.90 Feb/16
Armenia -2.00 Mar/16
Aruba -1.80 Mar/16
Australia 1.30 Mar/16
Austria 0.70 Mar/16
Azerbaijan 11.70 Feb/16
Bahamas 2.00 Dec/15
Bahrain 3.30 Mar/16
Bangladesh 5.65 Mar/16
Barbados -1.06 Dec/15
Belarus 12.80 Mar/16
Belgium 2.04 Apr/16
Belize 0.30 Feb/16
Benin -0.20 Feb/16
Bhutan 3.53 Dec/15
Bolivia 3.28 Mar/16
Bosnia and Herzegovina -1.80 Mar/16
Botswana 3.00 Mar/16
Brazil 9.39 Mar/16
Brunei -0.20 Feb/16
Bulgaria -1.50 Mar/16
Burkina Faso -0.20 Feb/16
Burundi 4.30 Mar/16
Cambodia 2.31 Feb/16
Cameroon 1.47 Dec/15
Canada 1.30 Mar/16
Cape Verde -1.20 Mar/16
Cayman Islands -2.50 Dec/15
Central African Republic 25.58 Jun/14
Chad -3.40 Mar/16
Chile 4.50 Mar/16
China 2.30 Mar/16
Colombia 7.98 Mar/16
Comoros 1.40 Dec/14
Congo 2.04 Feb/16
Costa Rica -1.10 Mar/16
Croatia -1.70 Mar/16
Cuba 5.30 Dec/14
Cyprus -2.50 Mar/16
Czech Republic 0.30 Mar/16
Denmark 0.00 Mar/16
Djibouti 2.60 Mar/15
Dominican Republic 1.59 Mar/16
East Timor -1.60 Feb/16
Ecuador 2.32 Mar/16
Egypt 9.00 Mar/16
El Salvador 1.12 Mar/16
Equatorial Guinea 3.90 Dec/15
Eritrea 11.40 Dec/14
Estonia -0.20 Mar/16
Ethiopia 7.50 Mar/16
Euro Area -0.20 Apr/16
European Union 0.00 Mar/16
Fiji 0.80 Mar/16
Finland 0.00 Mar/16
France -0.20 Apr/16
Gabon -0.01 Jun/15
Gambia 6.57 Sep/15
Georgia 4.10 Mar/16
Germany 0.10 Apr/16
Ghana 19.20 Mar/16
Greece -1.50 Mar/16
Guatemala 4.30 Mar/16
Guinea 7.70 Mar/16
Guinea Bissau 3.10 Feb/16
Guyana -0.97 Sep/15
Haiti 14.80 Mar/16
Honduras 2.48 Mar/16
Hong Kong 3.00 Mar/16
Hungary -0.20 Mar/16
Iceland 1.60 Apr/16
India 4.83 Mar/16
Indonesia 4.45 Mar/16
Iran 8.90 Feb/16
Iraq 1.50 Feb/16
Ireland -0.30 Mar/16
Israel -0.70 Mar/16
Italy -0.40 Apr/16
Ivory Coast 0.90 Mar/16
Jamaica 3.00 Mar/16
Japan -0.10 Mar/16
Jordan -1.67 Mar/16
Kazakhstan 15.70 Mar/16
Kenya 5.27 Apr/16
Kosovo 0.10 Mar/16
Kuwait 3.10 Mar/16
Kyrgyzstan 0.50 Mar/16
Laos 1.13 Mar/16
Latvia -0.60 Mar/16
Lebanon -3.57 Mar/16
Lesotho 6.60 Feb/16
Liberia 8.00 Dec/15
Libya 10.10 Nov/15
Liechtenstein -0.90 Mar/16
Lithuania 1.20 Mar/16
Luxembourg 0.05 Mar/16
Macau 3.31 Mar/16
Macedonia -0.40 Mar/16
Madagascar 7.20 Feb/16
Malawi 22.10 Mar/16
Malaysia 2.60 Mar/16
Maldives 1.30 Feb/16
Mali -1.50 Feb/16
Malta 1.00 Mar/16
Mauritania -0.40 Mar/16
Mauritius 0.90 Mar/16
Mexico 2.60 Mar/16
Moldova 9.40 Mar/16
Mongolia 1.70 Mar/16
Montenegro -0.90 Mar/16
Morocco 1.80 Mar/16
Mozambique 13.61 Mar/16
Myanmar 15.19 Sep/15
Namibia 6.50 Mar/16
Nepal 11.30 Feb/16
Netherlands 0.60 Mar/16
New Caledonia 0.90 Mar/16
New Zealand 0.40 Mar/16
Nicaragua 3.70 Mar/16
Niger 1.10 Mar/16
Nigeria 12.80 Mar/16
North Korea 55.00 Jul/13
Norway 3.30 Mar/16
Oman 0.10 Mar/16
Pakistan 3.94 Mar/16
Palestine 0.32 Mar/16
Panama 0.60 Mar/16
Papua New Guinea 6.40 Dec/15
Paraguay 4.70 Mar/16
Peru 3.91 Apr/16
Philippines 1.10 Mar/16
Poland -1.10 Apr/16
Portugal 0.40 Mar/16
Puerto Rico 0.50 Feb/16
Qatar 3.30 Mar/16
Republic of the Congo 3.70 Apr/15
Romania -3.00 Mar/16
Russia 7.30 Mar/16
Rwanda 5.80 Mar/16
Sao Tome and Principe 4.30 Feb/16
Saudi Arabia 4.30 Mar/16
Senegal 1.30 Mar/16
Serbia 0.60 Mar/16
Seychelles -3.20 Mar/16
Sierra Leone 8.85 Dec/15
Singapore -1.00 Mar/16
Slovakia -0.50 Mar/16
Slovenia -0.60 Apr/16
Somalia -4.00 Dec/14
South Africa 6.30 Mar/16
South Korea 1.00 Mar/16
South Sudan 245.20 Mar/16
Spain -1.10 Apr/16
Sri Lanka 3.10 Apr/16
Sudan 12.94 Feb/16
Suriname 31.88 Feb/16
Swaziland 4.90 Dec/15
Sweden 0.80 Mar/16
Switzerland -0.90 Mar/16
Syria 43.02 Oct/15
Taiwan 2.00 Mar/16
Tajikistan 5.60 Mar/16
Tanzania 5.40 Mar/16
Thailand -0.46 Mar/16
Togo 1.10 Mar/16
Trinidad and Tobago 3.40 Feb/16
Tunisia 3.30 Mar/16
Turkey 7.46 Mar/16
Turkmenistan 7.00 Dec/15
Uganda 5.10 Apr/16
Ukraine 20.90 Mar/16
United Arab Emirates 1.43 Mar/16
United Kingdom 0.50 Mar/16
United States 0.90 Mar/16
Uruguay 10.60 Mar/16
Uzbekistan 5.60 Dec/15
Venezuela 180.90 Dec/15
Vietnam 1.89 Apr/16
Yemen 9.49 Nov/14
Zambia 21.80 Apr/16
Zimbabwe -2.31 Mar/16