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

Consumer prices in Nigeria went up 9.6 percent year-on-year in December of 2015, compared to a 9.4 percent rise in the previous month. It was the highest inflation rate since December of 2012 as falling naira keep pushing import prices up, mainly food. Inflation Rate in Nigeria averaged 12.12 percent from 1996 until 2015, 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
9.60 9.40 47.56 -2.49 1996 - 2015 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 February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-15 02:00 PM Oct 9.3% 9.4% 9.5% 9.7%
2015-12-13 02:00 PM Nov 9.4% 9.3% 9.34% 9.76%
2016-01-18 08:15 AM Dec 9.6% 9.4% 9.4% 9.5%
2016-02-17 08:00 AM Jan 9.6% 9.7%
2016-03-17 08:00 AM Feb 9.6%
2016-04-16 10:00 AM Mar 9.59%

Nigeria Inflation Rate at 3-Year High


Consumer prices in Nigeria went up 9.6 percent year-on-year in December of 2015, compared to a 9.4 percent rise in the previous month. The inflation rate reached the highest since December of 2012 as a falling naira keeps pushing import prices up, mainly food.

Food prices recorded the highest increase (up 10.6 percent year-on-year): all major food groups contributed to the increase with the exception of milk, cheese and eggs. Additional upward pressure came from transport (+10.24 percent), clothing and footwear (+9.78 percent); education (+9.38 percent); alcoholic beverage and tobacco (+9.03 percent), miscellaneous goods & services (+9.01 percent), restaurant & hotels (+8.69 percent), health (+7.98 percent) and housing water electricity gas (+7.46 percent).

Annual core inflation rate which excludes prices of volatile agricultural products was unchanged at 8.7 percent for the second consecutive month.

On a monthly basis, consumer prices increased 1 percent, compared to a 0.7 percent growth in November and the highest rate since May.

National Bureau of Statistics | Mojdeh | mojdeh@tradingeconomics.com
1/18/2016 11:53:34 AM

Nigeria Prices Last Previous Highest Lowest Unit
Inflation Rate 9.60 9.40 47.56 -2.49 percent [+]
Consumer Price Index CPI 180.15 178.37 180.15 14.36 Index Points [+]
Core Consumer Prices 176.71 175.35 176.71 69.00 Index Points [+]
Core Inflation Rate 8.70 8.70 19.28 0.49 percent [+]
Food Inflation 10.60 10.30 39.54 -17.50 percent [+]
Inflation Rate Mom 1.00 0.70 8.93 -3.50 percent [+]
GDP Deflator 135.25 138.85 138.85 0.60 Index Points [+]




Last
Afghanistan 0.08 Dec/15
Albania 2.00 Dec/15
Algeria 3.84 Dec/15
Angola 14.27 Dec/15
Argentina 26.90 Dec/15
Armenia -0.40 Jan/16
Aruba -0.93 Dec/15
Australia 1.70 Dec/15
Austria 1.00 Dec/15
Azerbaijan 4.00 Dec/15
Bahamas 1.41 Jun/15
Bahrain 0.70 Dec/15
Bangladesh 6.07 Jan/16
Barbados -0.25 Oct/15
Belarus 12.00 Dec/15
Belgium 1.74 Jan/16
Belize -0.70 Dec/15
Benin 2.30 Dec/15
Bhutan 3.53 Dec/15
Bolivia 2.39 Jan/16
Bosnia and Herzegovina -1.00 Dec/15
Botswana 3.10 Dec/15
Brazil 10.71 Jan/16
Brunei -1.00 Dec/15
Bulgaria -0.40 Dec/15
Burkina Faso 2.10 Dec/15
Burundi 7.10 Dec/15
Cambodia 1.90 Nov/15
Cameroon 4.29 Jun/15
Canada 1.60 Dec/15
Cape Verde -0.50 Dec/15
Cayman Islands -2.90 Sep/15
Central African Republic 25.58 Jun/14
Chad -0.40 Nov/15
Chile 4.80 Jan/16
China 1.60 Dec/15
Colombia 7.45 Jan/16
Comoros 1.40 Dec/14
Congo 2.08 Dec/15
Costa Rica -0.17 Jan/16
Croatia -0.60 Jan/16
Cuba 5.30 Dec/14
Cyprus -1.30 Jan/16
Czech Republic 0.10 Dec/15
Denmark 0.50 Dec/15
Djibouti 2.60 Mar/15
Dominican Republic 2.34 Dec/15
East Timor -0.60 Dec/15
Ecuador 3.09 Jan/16
Egypt 11.10 Dec/15
El Salvador 1.80 Jan/16
Equatorial Guinea 3.60 Dec/14
Eritrea 11.60 Dec/14
Estonia -0.60 Jan/16
Ethiopia 10.20 Jan/16
Euro Area 0.40 Jan/16
European Union 0.20 Dec/15
Fiji 1.60 Dec/15
Finland -0.20 Dec/15
France 0.20 Jan/16
Gabon -0.01 Jun/15
Gambia 6.57 Sep/15
Georgia 5.60 Jan/16
Germany 0.50 Jan/16
Ghana 17.70 Dec/15
Greece -0.20 Dec/15
Guatemala 3.07 Dec/15
Guinea 7.30 Dec/15
Guinea Bissau 2.40 Dec/15
Guyana 0.18 May/15
Haiti 12.00 Dec/15
Honduras 3.08 Jan/16
Hong Kong 2.50 Dec/15
Hungary 0.90 Dec/15
Iceland 2.10 Jan/16
India 5.61 Dec/15
Indonesia 4.14 Jan/16
Iran 9.40 Dec/15
Iraq 2.30 Dec/15
Ireland 0.10 Dec/15
Israel -1.00 Dec/15
Italy 0.30 Jan/16
Ivory Coast 1.30 Dec/15
Jamaica 3.66 Dec/15
Japan 0.20 Dec/15
Jordan -1.60 Dec/15
Kazakhstan 14.40 Jan/16
Kenya 7.78 Jan/16
Kosovo -0.10 Dec/15
Kuwait 3.00 Dec/15
Kyrgyzstan 3.40 Dec/15
Laos 0.90 Dec/15
Latvia 0.30 Dec/15
Lebanon -3.40 Dec/15
Lesotho 5.10 Dec/15
Liberia 6.50 Sep/15
Libya 11.40 Sep/15
Liechtenstein -1.30 Dec/15
Lithuania -0.10 Dec/15
Luxembourg 1.10 Dec/15
Macau 3.73 Dec/15
Macedonia -0.30 Dec/15
Madagascar 7.60 Dec/15
Malawi 24.90 Dec/15
Malaysia 2.70 Dec/15
Maldives 2.00 Nov/15
Mali 1.00 Dec/15
Malta 1.20 Dec/15
Mauritania 0.50 Dec/15
Mauritius 0.40 Jan/16
Mexico 2.61 Jan/16
Moldova 13.60 Dec/15
Mongolia 1.90 Dec/15
Montenegro 1.40 Nov/15
Morocco 0.60 Dec/15
Mozambique 11.25 Jan/16
Myanmar 10.19 Jul/15
Namibia 3.70 Dec/15
Nepal 11.60 Dec/15
Netherlands 0.70 Dec/15
New Caledonia 0.70 Dec/15
New Zealand 0.10 Dec/15
Nicaragua 3.19 Jan/16
Niger 2.20 Dec/15
Nigeria 9.60 Dec/15
North Korea 55.00 Jul/13
Norway 2.30 Dec/15
Oman -0.10 Dec/15
Pakistan 3.32 Jan/16
Palestine 0.97 Dec/15
Panama 0.20 Dec/15
Papua New Guinea 5.80 Sep/15
Paraguay 5.20 Jan/16
Peru 4.61 Jan/16
Philippines 1.30 Jan/16
Poland -0.50 Dec/15
Portugal 0.40 Dec/15
Puerto Rico -0.20 Dec/15
Qatar 2.70 Dec/15
Republic of the Congo 3.70 Apr/15
Romania -0.90 Dec/15
Russia 9.80 Jan/16
Rwanda 6.80 Dec/15
Sao Tome and Principe 4.00 Dec/15
Saudi Arabia 2.30 Dec/15
Senegal 0.40 Dec/15
Serbia 1.50 Dec/15
Seychelles -0.10 Jan/16
Sierra Leone 8.85 Dec/15
Singapore -0.60 Dec/15
Slovakia -0.50 Dec/15
Slovenia -0.50 Jan/16
Somalia -4.00 Dec/14
South Africa 5.20 Dec/15
South Korea 0.80 Jan/16
South Sudan 109.90 Dec/15
Spain -0.30 Jan/16
Sri Lanka 0.90 Jan/16
Sudan 12.58 Dec/15
Suriname 25.00 Dec/15
Swaziland 4.50 Nov/15
Sweden 0.10 Dec/15
Switzerland -1.30 Dec/15
Syria 38.80 Jul/15
Taiwan 0.81 Jan/16
Tajikistan 5.20 Nov/15
Tanzania 6.50 Jan/16
Thailand -0.53 Jan/16
Togo 1.60 Dec/15
Trinidad and Tobago 1.50 Dec/15
Tunisia 3.60 Jan/16
Turkey 9.58 Jan/16
Turkmenistan 4.42 Dec/14
Uganda 7.60 Jan/16
Ukraine 40.30 Jan/16
United Arab Emirates 3.60 Dec/15
United Kingdom 0.20 Dec/15
United States 0.70 Dec/15
Uruguay 9.68 Jan/16
Uzbekistan 2.60 Mar/14
Venezuela 108.70 Sep/15
Vietnam 0.80 Jan/16
Yemen 9.49 Nov/14
Zambia 21.80 Jan/16
Zimbabwe -2.47 Dec/15