Nigeria inflation rate YoYNigeria inflation rate YoYNigeria inflation rate YoY

Nigeria inflation rate YoY

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Key data points


Last release
Observation period
Oct 2024
Next release
Forecast
Highest
47.56% on Jan 31, 1996
Lowest
−2.49% on Jan 31, 2000

About Nigeria inflation rate YoY


Category
Prices
Frequency
Monthly
Units
%
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 & Non-alcoholic Beverages (52% of the total weight), Housing, Water, Electricity, Gas & Other Fuel (17%), Clothing & Footwear (8%). Transports account for 7% and Furnishings & Household Equipment Maintenance for 5%. Others include: Education (4%); Health (3%); Miscellaneous Goods and Services (2%); Restaurants and Hotels (1%); Alcoholic Beverages, Tobacco & Kola (1%); Recreation & Culture (1%); and Communications (1%).

Frequently Asked Questions


The highest figure Nigeria inflation rate YoY has ever reached is 47.56%.
The lowest ever Nigeria inflation rate YoY is −2.49%.
Last month Nigeria inflation rate YoY was 33.88%, and the month before that it amounted to 32.70%.