Inflation has been plaguing the Nigeria economy for decades. The table below provides the Historical U.S. Inflation Rate data from 1914 to the Present. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. This page provides the latest reported value for - Nigeria Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Inflation is the increase in the prices of goods and services which is caused by a variety of factors. Food Inflation in Nigeria averaged 11.73 percent from 1996 until 2020, reaching an all time high of 39.54 percent in September of 2001 and a record low of -17.50 percent in January of 2000. Though Nigeria inflation rate fluctuated substantially in recent years, it tended to decrease through 2000 - 2019 period ending at 11.4 % in 2019. Prices rose by about 14 percent in 1970 (immediately after the civil war of 1970). Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic.If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. We have provided a few examples below that you can copy and paste to your site:Your data export is now complete.

During the observation period from 1979 to 2019, the average inflation rate was 19.2% per year. 2009=100 There has been fluctuations in Nigeria’s inflation rate for decades rising as high as 47.56 in 1996 to as low as … Consumer Price Index CPI in Nigeria increased to 326.10 points in June from 322.20 points in May of 2020. Core Inflation Rate in Nigeria averaged 10.21 percent from 2007 until 2020, reaching an all time high of 19.28 percent in January of 2007 and a record low of 0.49 percent in March of 2008.
At the beginning of last year CBN promised that by 2012 it will be able to bring inflation rate to a single digit.Numerous factors can be pointed out as being responsible for this failure such as the January fuel price hike and huge liquidity injections into the economy by federal government, analystNumerous factors can be pointed out as being responsible for this failure such as the January fuel price hike and huge liquidity injections into the economy by federal government, analyst tend to put aside the contribution of foreign exchange as insignificant. Nigeria: Inflation hits highest level since March 2018. Though Nigeria inflation rate fluctuated substantially in recent years, it tended to decrease through 2000 - 2019 period ending at 11.4 % in 2019.Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The history of inflation in Nigeria is full of up and down, for example, in the middle of 1970s when there was an oil boom in the economy the rate of inflation goes out of the way and the military government of that time did not help matters with it inflationary policies such as the Udoji awards, that unnecessarily put money in the pockets of civil servants.The short span government of Buhari tried to bring the rate of … Nigeria: Central Bank weakens currency again in July. (iii) Explore the effect of inflation on capital formation in Nigeria; (iv) Examine the influence of inflation on peoples’ consumption; (v) Suggest visible solutions to the problem of inflation in the country. July 16, 2020 Find out about the main causes of inflation in Nigeria in this article. Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. 2007-2020 Data | 2021-2022 Forecast | Historical | ChartDownload historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data.