Nigeria Inflation Rate  1996-2017 | Data | Chart | Calendar | Forecast

Nigeria's consumer prices increased by 18.72 percent year-on-year in January of 2017, following 18.55 percent rise in the previous month. The inflation rate accelerated for the 12th straight month to the highest since September 2005, as prices continued to rise for food and housing and utilities. Inflation Rate in Nigeria averaged 12.32 percent from 1996 until 2017, 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.

Nigeria Inflation Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-15 08:20 AM Nov 18.48% 18.3% 18.41% 18.8%
2017-01-13 05:45 PM Dec 18.55% 18.48% 18.61%
2017-02-15 12:00 PM Jan 18.72% 18.55% 18.6% 18.71%
2017-03-15 09:00 AM Feb 18.72% 18.81%
2017-04-12 09:00 AM Mar 18.87%
2017-05-16 09:00 AM Apr 18.91%




Nigeria Inflation Rate Highest Since September 2005


Nigeria's consumer prices increased by 18.72 percent year-on-year in January of 2017, following 18.55 percent rise in the previous month. The inflation rate accelerated for the 12th straight month to the highest since September 2005, as prices continued to rise for food and housing and utilities.

Compared to January of 2016, cost of food increased by 17.8 percent following 17.4 percent in December (namely for bread and cereals; meat, oil and fats, and fish) while prices of imported food increased slightly less (21 percent from 21.1 percent). Additional upward pressure came from: housing and utilities (27.2 percent, at the same pace as in December); education (21 percent from 21.6 percent); clothing and footwear (17.9 percent from +18.8 percent); furnishings and household equipment (13.9 percent from 13.6 percent) and transport (17.2 percent from 17.3 percent).

Annual core inflation rate edged down to 17.85 percent from 18.03 percent in the previous month.

On a monthly basis, consumer prices went up 1.01 percent compared with a 1.06 percent rise in the previous month, as cost rose for: food (+1.3 percent); imported food (+0.9 percent); housing and utilities (+0.6 percent); and clothing and footwear (+0.9 percent).

National Bureau of Statistics | Deborah Neves | deborah.neves@tradingeconomics.com
2/15/2017 2:51:18 PM



Nigeria Prices Last Previous Highest Lowest Unit
Inflation Rate 18.72 18.55 47.56 -2.49 percent [+]
Consumer Price Index CPI 215.70 213.60 215.70 14.36 Index Points [+]
Core Consumer Prices 210.00 208.60 210.00 69.00 Index Points [+]
Core Inflation Rate 17.85 18.04 19.28 0.49 percent [+]
Food Inflation 17.82 17.40 39.54 -17.50 percent [+]
Inflation Rate Mom 1.01 1.08 8.93 -3.50 percent [+]
GDP Deflator 151.12 145.64 151.12 0.60 Index Points [+]
Cpi Transportation 208.50 206.50 208.50 68.50 Index Points [+]



Nigeria Inflation Rate Notes

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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
18.72 18.55 47.56 -2.49 1996 - 2017 percent Monthly
2009=100



Last
Afghanistan 4.60 Nov/16
Albania 2.80 Jan/17
Algeria 6.95 Dec/16
Angola 40.39 Jan/17
Argentina 40.50 Apr/16
Armenia -0.60 Jan/17
Aruba -0.30 Dec/16
Australia 1.50 Dec/16
Austria 1.40 Dec/16
Azerbaijan 11.90 Jan/17
Bahamas 0.80 Dec/16
Bahrain 0.80 Jan/17
Bangladesh 5.15 Jan/17
Barbados -0.60 Jul/16
Belarus 9.50 Jan/17
Belgium 2.65 Jan/17
Belize 1.10 Dec/16
Benin -2.80 Dec/16
Bhutan 3.71 Dec/16
Bolivia 3.68 Jan/17
Bosnia and Herzegovina -0.20 Dec/16
Botswana 3.10 Jan/17
Brazil 5.35 Jan/17
Brunei -1.60 Dec/16
Bulgaria 1.40 Jan/17
Burkina Faso -1.80 Nov/16
Burundi 9.60 Dec/16
Cambodia 3.61 Nov/16
Cameroon 0.55 Sep/17
Canada 1.50 Dec/16
Cape Verde -1.40 Dec/16
Cayman Islands 0.50 Sep/16
Central African Republic 38.04 Feb/16
Chad -4.40 Oct/16
Chile 2.80 Jan/17
China 2.50 Jan/17
Colombia 5.47 Jan/17
Comoros 1.40 Dec/14
Congo 11.20 Dec/16
Costa Rica 0.66 Jan/17
Croatia 0.20 Dec/16
Cuba 4.50 Dec/16
Cyprus 0.50 Jan/17
Czech Republic 2.20 Jan/17
Denmark 0.90 Jan/17
Djibouti 3.65 Nov/16
Dominican Republic 2.33 Jan/17
East Timor 0.00 Dec/16
Ecuador 0.90 Jan/17
Egypt 28.10 Jan/17
El Salvador -0.26 Jan/17
Equatorial Guinea 3.90 Dec/15
Eritrea 12.50 Dec/15
Estonia 2.70 Jan/17
Ethiopia 6.10 Jan/17
Euro Area 1.80 Jan/17
European Union 1.20 Dec/16
Fiji 6.80 Jan/17
Finland 0.80 Jan/17
France 1.40 Jan/17
Gabon 2.09 Feb/16
Gambia 7.43 Sep/16
Georgia 3.90 Jan/17
Germany 1.90 Jan/17
Ghana 13.30 Jan/17
Greece 1.20 Jan/17
Guatemala 3.83 Jan/17
Guinea 8.60 Nov/16
Guinea Bissau 0.70 Nov/16
Guyana 1.40 Dec/16
Haiti 14.30 Dec/16
Honduras 3.44 Jan/17
Hong Kong 1.20 Dec/16
Hungary 2.30 Jan/17
Iceland 1.90 Jan/17
India 3.17 Jan/17
Indonesia 3.49 Jan/17
Iran 9.60 Jan/17
Iraq -0.70 Dec/16
Ireland 0.00 Dec/16
Israel 0.10 Jan/17
Italy 0.90 Jan/17
Ivory Coast 1.10 Jan/17
Jamaica 2.60 Jan/17
Japan 0.30 Dec/16
Jordan 2.50 Jan/17
Kazakhstan 7.90 Jan/17
Kenya 6.99 Jan/17
Kosovo 1.70 Jan/17
Kuwait 3.51 Dec/16
Kyrgyzstan 0.50 Jan/17
Laos 2.27 Jan/17
Latvia 2.90 Jan/17
Lebanon 3.14 Dec/16
Lesotho 5.30 Dec/16
Liberia 8.50 Sep/16
Libya 29.40 Sep/16
Liechtenstein 0.30 Jan/17
Lithuania 2.30 Jan/17
Luxembourg 1.70 Jan/17
Macau 1.44 Dec/16
Macedonia 0.60 Jan/17
Madagascar 7.00 Dec/16
Malawi 18.20 Jan/17
Malaysia 1.80 Dec/16
Maldives 1.80 Dec/16
Mali -0.70 Nov/16
Malta 1.00 Dec/16
Mauritania 2.80 Dec/16
Mauritius 1.80 Jan/17
Mexico 4.72 Jan/17
Moldova 3.00 Jan/17
Mongolia 3.30 Jan/17
Montenegro 0.90 Dec/16
Morocco 1.80 Dec/16
Mozambique 20.56 Jan/17
Myanmar 11.38 May/16
Namibia 8.20 Jan/17
Nepal 3.20 Jan/17
Netherlands 1.70 Jan/17
New Caledonia 0.60 Dec/16
New Zealand 1.30 Dec/16
Nicaragua 3.88 Jan/17
Niger -2.20 Dec/16
Nigeria 18.72 Jan/17
North Korea 55.00 Jul/13
Norway 2.80 Jan/17
Oman 1.80 Jan/17
Pakistan 3.66 Jan/17
Palestine -0.26 Jan/17
Panama 1.60 Jan/17
Papua New Guinea 6.80 Sep/16
Paraguay 1.90 Jan/17
Peru 3.10 Jan/17
Philippines 2.70 Jan/17
Poland 1.80 Jan/17
Portugal 1.30 Jan/17
Puerto Rico 0.50 Dec/16
Qatar 1.20 Jan/17
Republic of the Congo 3.70 Apr/15
Romania 0.10 Jan/17
Russia 5.00 Jan/17
Rwanda 12.00 Jan/17
Sao Tome and Principe 5.10 Dec/16
Saudi Arabia 1.70 Dec/16
Senegal 1.80 Jan/17
Serbia 1.60 Dec/16
Seychelles -0.60 Jan/17
Sierra Leone 15.26 Nov/16
Singapore 0.20 Dec/16
Slovakia 0.70 Jan/17
Slovenia 1.30 Jan/17
Somalia -4.00 Dec/14
South Africa 6.60 Jan/17
South Korea 2.00 Jan/17
South Sudan 479.70 Dec/16
Spain 3.00 Jan/17
Sri Lanka 5.60 Jan/17
Sudan 30.47 Dec/16
Suriname 52.40 Dec/16
Swaziland 8.70 Dec/16
Sweden 1.40 Jan/17
Switzerland 0.30 Jan/17
Syria 52.50 Jul/16
Taiwan 2.25 Jan/17
Tajikistan 5.30 Jan/17
Tanzania 5.20 Jan/17
Thailand 1.55 Jan/17
Togo 0.40 Dec/16
Trinidad and Tobago 2.90 Nov/16
Tunisia 4.60 Jan/17
Turkey 9.22 Jan/17
Turkmenistan 6.17 Dec/16
Uganda 5.90 Jan/17
Ukraine 12.60 Jan/17
United Arab Emirates 2.60 Nov/16
United Kingdom 1.80 Jan/17
United States 2.50 Jan/17
Uruguay 8.30 Jan/17
Uzbekistan 5.70 Dec/16
Venezuela 800.00 Dec/16
Vietnam 5.22 Jan/17
Yemen 9.49 Nov/14
Zambia 7.00 Jan/17
Zimbabwe -0.65 Jan/17