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

Consumer prices in Nigeria surged 13.7 percent year-on-year in April of 2016, compared to a 12.8 jump in the previous month. The inflation rate accelerated for the third straight month, reaching the highest since August of 2010, boosted by higher cost of food, electricity (as effect of higher tariffs assigned in February) and transport. Annual core inflation rate rose to 13.4 percent and month-on- month, consumer prices went up 1.61 percent compared to a 2.2 percent increase in March. Inflation Rate in Nigeria averaged 12.12 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
Receive the next reported value for Nigeria Inflation Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
13.70 12.80 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)
2016-03-15 12:00 PM Feb 11.4% 9.6% 10% 9.8%
2016-04-12 12:00 PM Mar 12.8% 11.4% 11.7%
2016-05-16 09:15 AM Apr 13.7% 12.8% 13.6% 13.9%
2016-06-18 12:00 PM May 13.7% 14.3%
2016-07-16 12:00 PM Jun 14.9%
2016-08-18 12:00 PM Jul 15.4%

Nigeria Inflation Rate Jumps to Nearly 6-Year High


Consumer prices in Nigeria surged 13.7 percent year-on-year in April of 2016, compared to a 12.8 jump in the previous month. The inflation rate accelerated for the third straight month, reaching the highest since August of 2010, boosted by higher cost of food, electricity, due to the effect of higher tariffs assigned in February and transport.

Year-on-year, food prices rose 13.2 percent (from 12.7 percent in March), housing, water, electricity and gas increased 18.98 percent (from 15.9 percent). Additional upward pressure came from clothing and footwear (12.7 percent from 12.0 percent); transport (14 percent from 13.2 percent); furnishings and household equipment (9.6 percent from 9.1 percent); education (13.9 percent from 12.9 percent); health (9 percent from 8.9 percent); miscellaneous goods and services (10.6 percent from 10.3 percent) and alcoholic beverages, tobacco and cola (11.1 percent from 10.9 percent). Prices of restaurants and hotels went up by 8.5 percent from an 8.7 percent rise in the previous month.

Annual core inflation rate rose to 13.4 percent from 12.2 percent in the previous month.

On a monthly basis, consumer prices went up 1.61 percent compared to a 2.2 percent increase in March, mostly due to rise in cost of food (+1.3 percent); housing, water, electricity and gas (+3.3 percent) and clothing and footwear both (+1.2 percent).

On May 1th, the government cut fuel subsidies and hiked the gasoline prices by 67 percent (from NGN 87 to NGN 145 a liter). The move is expected to raise the inflation further in upcoming months.

National Bureau of Statistics | Mojdeh Kazemi | mojdeh@tradingeconomics.com
5/16/2016 2:37:59 PM

Nigeria Prices Last Previous Highest Lowest Unit
Inflation Rate 13.70 12.80 47.56 -2.49 percent [+]
Consumer Price Index CPI 192.99 189.94 192.99 14.36 Index Points [+]
Core Consumer Prices 189.55 186.42 189.55 69.00 Index Points [+]
Core Inflation Rate 13.40 12.20 19.28 0.49 percent [+]
Food Inflation 13.20 12.70 39.54 -17.50 percent [+]
Inflation Rate Mom 1.60 2.20 8.93 -3.50 percent [+]
GDP Deflator 139.20 139.91 139.91 0.60 Index Points [+]
Cpi Transportation 187.47 184.54 187.47 68.50 Index Points [+]




Last
Afghanistan 3.85 Mar/16
Albania 0.30 Apr/16
Algeria 4.61 Mar/16
Angola 26.41 Apr/16
Argentina 35.00 Mar/16
Armenia -1.90 Apr/16
Aruba -1.60 Apr/16
Australia 1.30 Mar/16
Austria 0.50 Apr/16
Azerbaijan 10.50 Apr/16
Bahamas 2.00 Dec/15
Bahrain 3.80 Apr/16
Bangladesh 5.61 Apr/16
Barbados -1.06 Dec/15
Belarus 12.60 Apr/16
Belgium 2.04 Apr/16
Belize 0.10 Mar/16
Benin -0.20 Feb/16
Bhutan 3.03 Mar/16
Bolivia 4.12 Apr/16
Bosnia and Herzegovina -1.60 Apr/16
Botswana 2.80 Apr/16
Brazil 9.28 Apr/16
Brunei -1.00 Apr/16
Bulgaria -2.20 Apr/16
Burkina Faso 0.70 Mar/16
Burundi 4.30 Mar/16
Cambodia 2.31 Feb/16
Cameroon 1.47 Dec/15
Canada 1.70 Apr/16
Cape Verde -0.90 Apr/16
Cayman Islands -2.50 Dec/15
Central African Republic 25.58 Jun/14
Chad -3.40 Mar/16
Chile 4.20 Apr/16
China 2.30 Apr/16
Colombia 7.93 Apr/16
Comoros 1.40 Dec/14
Congo 2.10 Mar/16
Costa Rica -0.92 Apr/16
Croatia -1.70 Apr/16
Cuba 5.30 Dec/14
Cyprus -2.47 Apr/16
Czech Republic 0.60 Apr/16
Denmark 0.00 Apr/16
Djibouti 2.60 Mar/15
Dominican Republic 1.75 Apr/16
East Timor -1.60 Mar/16
Ecuador 1.78 Apr/16
Egypt 10.30 Apr/16
El Salvador 0.86 Apr/16
Equatorial Guinea 3.90 Dec/15
Eritrea 11.40 Dec/14
Estonia -0.80 Apr/16
Ethiopia 7.40 Apr/16
Euro Area -0.20 Apr/16
European Union 0.00 Mar/16
Fiji 0.80 Mar/16
Finland 0.30 Apr/16
France -0.20 Apr/16
Gabon -0.01 Jun/15
Gambia 6.57 Sep/15
Georgia 3.20 Apr/16
Germany -0.10 Apr/16
Ghana 18.70 Apr/16
Greece -1.30 Apr/16
Guatemala 4.25 Apr/16
Guinea 7.70 Mar/16
Guinea Bissau 2.30 Mar/16
Guyana -0.97 Sep/15
Haiti 14.80 Mar/16
Honduras 2.48 Mar/16
Hong Kong 2.70 Apr/16
Hungary 0.20 Apr/16
Iceland 1.70 May/16
India 5.39 Apr/16
Indonesia 3.60 Apr/16
Iran 8.30 Mar/16
Iraq 1.80 Mar/16
Ireland -0.10 Apr/16
Israel -0.90 Apr/16
Italy -0.50 Apr/16
Ivory Coast 2.00 Apr/16
Jamaica 2.40 Apr/16
Japan -0.30 Apr/16
Jordan -1.20 Apr/16
Kazakhstan 16.30 Apr/16
Kenya 5.27 Apr/16
Kosovo -0.10 Apr/16
Kuwait 2.85 Apr/16
Kyrgyzstan 0.50 Mar/16
Laos 1.13 Mar/16
Latvia -0.80 Apr/16
Lebanon -2.35 Apr/16
Lesotho 6.60 Feb/16
Liberia 7.10 Feb/16
Libya 10.10 Nov/15
Liechtenstein -0.40 Apr/16
Lithuania 1.00 Apr/16
Luxembourg 0.07 Apr/16
Macau 3.02 Apr/16
Macedonia -0.70 Apr/16
Madagascar 6.00 Mar/16
Malawi 20.10 Apr/16
Malaysia 2.10 Apr/16
Maldives 1.40 Mar/16
Mali -2.50 Apr/16
Malta 0.80 Apr/16
Mauritania 0.90 Apr/16
Mauritius 0.20 Apr/16
Mexico 2.54 Apr/16
Moldova 8.30 Apr/16
Mongolia 2.10 Apr/16
Montenegro -0.70 Apr/16
Morocco 1.60 Apr/16
Mozambique 17.29 Apr/16
Myanmar 15.19 Sep/15
Namibia 6.60 Apr/16
Nepal 10.20 Mar/16
Netherlands 0.00 Apr/16
New Caledonia 1.10 Apr/16
New Zealand 0.40 Mar/16
Nicaragua 3.60 Apr/16
Niger 0.30 Apr/16
Nigeria 13.70 Apr/16
North Korea 55.00 Jul/13
Norway 3.20 Apr/16
Oman 1.10 Apr/16
Pakistan 4.17 Apr/16
Palestine -0.28 Apr/16
Panama 0.60 Apr/16
Papua New Guinea 6.40 Dec/15
Paraguay 4.50 Apr/16
Peru 3.91 Apr/16
Philippines 1.10 Apr/16
Poland -1.10 Apr/16
Portugal 0.50 Apr/16
Puerto Rico -0.60 Mar/16
Qatar 3.40 Apr/16
Republic of the Congo 3.70 Apr/15
Romania -3.30 Apr/16
Russia 7.30 Apr/16
Rwanda 4.40 Apr/16
Sao Tome and Principe 4.70 Mar/16
Saudi Arabia 4.20 Apr/16
Senegal 0.70 Apr/16
Serbia 0.40 Apr/16
Seychelles -1.10 Apr/16
Sierra Leone 8.85 Dec/15
Singapore -0.50 Apr/16
Slovakia -0.40 Apr/16
Slovenia -0.60 Apr/16
Somalia -4.00 Dec/14
South Africa 6.20 Apr/16
South Korea 1.00 Apr/16
South Sudan 266.40 Apr/16
Spain -1.10 Apr/16
Sri Lanka 4.30 Apr/16
Sudan 12.85 Apr/16
Suriname 36.60 Mar/16
Swaziland 4.90 Dec/15
Sweden 0.80 Apr/16
Switzerland -0.40 Apr/16
Syria 44.70 Nov/15
Taiwan 1.88 Apr/16
Tajikistan 5.30 Apr/16
Tanzania 5.10 Apr/16
Thailand 0.07 Apr/16
Togo 2.20 Apr/16
Trinidad and Tobago 3.30 Mar/16
Tunisia 3.40 Apr/16
Turkey 6.57 Apr/16
Turkmenistan 7.00 Dec/15
Uganda 5.10 Apr/16
Ukraine 9.80 Apr/16
United Arab Emirates 1.43 Mar/16
United Kingdom 0.30 Apr/16
United States 1.10 Apr/16
Uruguay 10.50 Apr/16
Uzbekistan 5.60 Dec/15
Venezuela 180.90 Dec/15
Vietnam 2.28 May/16
Yemen 9.49 Nov/14
Zambia 21.30 May/16
Zimbabwe -1.64 Apr/16