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Nigeria consumer price indexNigeria consumer price indexNigeria consumer price index

Nigeria consumer price index

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NGCPI chart


Full chart

Key data points


Last release
—
Observation period
Aug 2024
Next release
—
Forecast
—
Highest
784.40POINT on Aug 31, 2024
Lowest
14.36POINT on Jan 31, 1995

About Nigeria consumer price index


Category
Prices
Source
National Bureau of Statistics
Frequency
Monthly
Units
POINT
In Nigeria, the Consumer Price Index or CPI measures changes in the prices paid by consumers for a basket of goods and services.

Related indicators


NGCCP
Core Consumer Prices
NGCIR
Core Inflation Rate YoY
NGCPIHU
CPI Housing Utilities
NGCPIT
CPI Transportation
NGFI
Food Inflation YoY
NGGDPD
GDP Deflator
NGIRMM
Inflation Rate MoM
NGIRYY
Inflation Rate

Frequently Asked Questions


The Consumer Price Index (CPI) gauges the general fluctuation in consumer prices by tracking a diverse selection of goods and services over time. Widely embraced as the primary indicator of inflation, it is closely monitored by policymakers, businesses, and other market participants.
Core CPI captures the variations in the prices of goods and services, but unlike CPI, it excludes those originating from the food and energy sectors. Core CPI helps to determine the influence of increasing prices on consumer income.
The highest Nigeria consumer price index ever is 784.40 POINT.
The lowest Nigeria consumer price index ever is 14.36 POINT.
Last month Nigeria consumer price index was 784.40 POINT, and the month before that it reached 767.40 POINT.