Inflation, consumer prices (annual %) (International Financial) in Nigeria
Nigeria: Inflation, consumer prices (annual %) (International Financial) was 23.0% in 2025. ◆ Volatile
Inflation, consumer prices in Nigeria, 1960–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in annual %.
Analysis
In 2025, inflation, consumer prices in Nigeria stood at 23.0%.
That represents a change of down 30.8% on the previous year and up 155.4% over ten years.
Over the whole period, inflation, consumer prices in Nigeria peaked at 72.8% in 1995 and was at its lowest, -3.7%, in 1967.
Nigeria ranks 11th of 192 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, consumer prices (annual %) (International Financial) in Nigeria, year by year
| Year | annual % | Change |
|---|---|---|
| 1960 | 5.4% | — |
| 1961 | 6.3% | +15.3% |
| 1962 | 5.3% | -16.1% |
| 1963 | -2.7% | -151.2% |
| 1964 | 0.9% | -131.8% |
| 1965 | 4.1% | +378.9% |
| 1966 | 9.7% | +136.2% |
| 1967 | -3.7% | -138.5% |
| 1968 | -0.5% | -87.2% |
| 1969 | 10.2% | -2233.3% |
| 1970 | 13.8% | +35.5% |
| 1971 | 16.0% | +16.3% |
| 1972 | 3.5% | -78.4% |
| 1973 | 5.4% | +56.3% |
| 1974 | 12.7% | +134.6% |
| 1975 | 34.0% | +168.0% |
| 1976 | 24.3% | -28.5% |
| 1977 | 15.1% | -37.9% |
| 1978 | 21.7% | +43.9% |
| 1979 | 11.7% | -46.1% |
| 1980 | 10.0% | -14.8% |
| 1981 | 20.8% | +108.7% |
| 1982 | 7.7% | -63.0% |
| 1983 | 23.2% | +201.5% |
| 1984 | 17.8% | -23.2% |
| 1985 | 7.4% | -58.3% |
| 1986 | 5.7% | -23.1% |
| 1987 | 11.3% | +97.5% |
| 1988 | 54.5% | +382.8% |
| 1989 | 50.5% | -7.4% |
| 1990 | 7.4% | -85.4% |
| 1991 | 13.0% | +76.6% |
| 1992 | 44.6% | +242.8% |
| 1993 | 57.2% | +28.2% |
| 1994 | 57.0% | -0.2% |
| 1995 | 72.8% | +27.7% |
| 1996 | 29.3% | -59.8% |
| 1997 | 8.5% | -70.9% |
| 1998 | 10.0% | +17.2% |
| 1999 | 6.6% | -33.8% |
| 2000 | 6.9% | +4.8% |
| 2001 | 18.9% | +172.2% |
| 2002 | 12.9% | -31.8% |
| 2003 | 14.0% | +9.0% |
| 2004 | 15.0% | +6.9% |
| 2005 | 17.9% | +19.1% |
| 2006 | 8.2% | -53.9% |
| 2007 | 5.4% | -34.5% |
| 2008 | 11.6% | +115.1% |
| 2009 | 12.5% | +8.2% |
| 2010 | 13.7% | +9.6% |
| 2011 | 10.8% | -21.2% |
| 2012 | 12.2% | +12.9% |
| 2013 | 8.5% | -30.5% |
| 2014 | 8.0% | -5.3% |
| 2015 | 9.0% | +12.0% |
| 2016 | 15.7% | +74.2% |
| 2017 | 16.5% | +5.1% |
| 2018 | 12.1% | -26.7% |
| 2019 | 11.4% | -5.8% |
| 2020 | 13.2% | +16.2% |
| 2021 | 17.0% | +28.0% |
| 2022 | 18.8% | +11.2% |
| 2023 | 24.7% | +30.8% |
| 2024 | 33.2% | +34.8% |
| 2025 | 23.0% | -30.8% |
Nigeria compared with similar countries
- Nigeria's 23.0% is above the median for lower middle income countries, which is 3.6%, 6.5× the median. (47 countries reporting)
- Nigeria's 23.0% is above the median for Sub-Saharan Africa, which is 3.5%, 6.7× the median. (46 countries reporting)
Biggest year-on-year movements
Years where Inflation, consumer prices (annual %) (International Financial) in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1969 | +2233.3% | -0.5% | 10.2% |
| 1988 | +382.8% | 11.3% | 54.5% |
| 1965 | +378.9% | 0.9% | 4.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.5% | -3.7% | 10.2% | 10 |
| 1970s | 15.8% | 3.5% | 34.0% | 10 |
| 1980s | 20.9% | 5.7% | 54.5% | 10 |
| 1990s | 30.6% | 6.6% | 72.8% | 10 |
| 2000s | 12.3% | 5.4% | 18.9% | 10 |
| 2010s | 11.8% | 8.0% | 16.5% | 10 |
| 2020s | 21.7% | 13.2% | 33.2% | 6 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0107 units per US$ of GDP (2025)
Frequently asked questions
- What is inflation, consumer prices in Nigeria?
- Inflation, consumer prices in Nigeria was 23.0% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest inflation, consumer prices recorded in Nigeria?
- The highest recorded value was 72.8% in 1995.
- What is the lowest inflation, consumer prices recorded in Nigeria?
- The lowest recorded value was -3.7% in 1967.
- How does Nigeria rank for inflation, consumer prices?
- Nigeria ranks 11th out of 192 countries with data for 2025.
- Is inflation, consumer prices rising or falling in Nigeria?
- Over the last ten years it is up 155.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Inflation, consumer prices (annual %). Statizoid updates them automatically from the source API.
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About this data
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.