Inflation of consumer prices in Nigeria
Nigeria: Inflation of consumer prices was 23.01 in 2025. ◆ Volatile
Latest (2025)
23.01
Change on year
down 30.8%
World rank
11th
of 190 countries
All-time high
72.84
in 1995
All-time low
-3.73
in 1967
Years of data
66
1960–2025
Inflation of consumer prices in Nigeria, 1960–2025
Source: Our World in Data.
Analysis
Nigeria recorded 23.01 for inflation of consumer prices in 2025.
That represents a change of down 30.8% on the previous year and up 155.4% over ten years.
Over the whole period, inflation of consumer prices in Nigeria peaked at 72.84 in 1995 and was at its lowest, -3.73, in 1967.
Nigeria ranks 11th of 190 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 of consumer prices in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1960 | 5.44 | — |
| 1961 | 6.28 | +15.3% |
| 1962 | 5.27 | -16.1% |
| 1963 | -2.69 | -151.2% |
| 1964 | 0.8568 | -131.8% |
| 1965 | 4.1 | +378.9% |
| 1966 | 9.69 | +136.2% |
| 1967 | -3.73 | -138.5% |
| 1968 | -0.4761 | -87.2% |
| 1969 | 10.16 | -2233.3% |
| 1970 | 13.76 | +35.5% |
| 1971 | 16 | +16.3% |
| 1972 | 3.46 | -78.4% |
| 1973 | 5.4 | +56.3% |
| 1974 | 12.67 | +134.6% |
| 1975 | 33.96 | +168.0% |
| 1976 | 24.3 | -28.5% |
| 1977 | 15.09 | -37.9% |
| 1978 | 21.71 | +43.9% |
| 1979 | 11.71 | -46.1% |
| 1980 | 9.97 | -14.8% |
| 1981 | 20.81 | +108.7% |
| 1982 | 7.7 | -63.0% |
| 1983 | 23.21 | +201.5% |
| 1984 | 17.82 | -23.2% |
| 1985 | 7.44 | -58.3% |
| 1986 | 5.72 | -23.1% |
| 1987 | 11.29 | +97.5% |
| 1988 | 54.51 | +382.8% |
| 1989 | 50.47 | -7.4% |
| 1990 | 7.36 | -85.4% |
| 1991 | 13.01 | +76.6% |
| 1992 | 44.59 | +242.8% |
| 1993 | 57.17 | +28.2% |
| 1994 | 57.03 | -0.2% |
| 1995 | 72.84 | +27.7% |
| 1996 | 29.27 | -59.8% |
| 1997 | 8.53 | -70.9% |
| 1998 | 10 | +17.2% |
| 1999 | 6.62 | -33.8% |
| 2000 | 6.93 | +4.8% |
| 2001 | 18.87 | +172.2% |
| 2002 | 12.88 | -31.8% |
| 2003 | 14.03 | +9.0% |
| 2004 | 15 | +6.9% |
| 2005 | 17.86 | +19.1% |
| 2006 | 8.23 | -53.9% |
| 2007 | 5.39 | -34.5% |
| 2008 | 11.58 | +115.1% |
| 2009 | 12.54 | +8.2% |
| 2010 | 13.74 | +9.6% |
| 2011 | 10.83 | -21.2% |
| 2012 | 12.22 | +12.9% |
| 2013 | 8.5 | -30.5% |
| 2014 | 8.05 | -5.3% |
| 2015 | 9.01 | +12.0% |
| 2016 | 15.7 | +74.2% |
| 2017 | 16.5 | +5.1% |
| 2018 | 12.1 | -26.7% |
| 2019 | 11.4 | -5.8% |
| 2020 | 13.25 | +16.2% |
| 2021 | 16.95 | +28.0% |
| 2022 | 18.85 | +11.2% |
| 2023 | 24.66 | +30.8% |
| 2024 | 33.24 | +34.8% |
| 2025 | 23.01 | -30.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 3.49 | -3.73 | 10.16 | 10 |
| 1970s | 15.81 | 3.46 | 33.96 | 10 |
| 1980s | 20.89 | 5.72 | 54.51 | 10 |
| 1990s | 30.64 | 6.62 | 72.84 | 10 |
| 2000s | 12.33 | 5.39 | 18.87 | 10 |
| 2010s | 11.8 | 8.05 | 16.5 | 10 |
| 2020s | 21.66 | 13.25 | 33.24 | 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)
- GNI, Atlas method (current US$), annual growth rate -18.64 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 1.11 current US$ per US$ of GDP (2025)
- GNI, Atlas method (current US$), per capita 1,362 current US$ per person (2025)
- GNI (current US$), annual growth rate 14.23 % change on previous year (2025)
- GNI (current US$), per unit of GDP 0.9687 current US$ per US$ of GDP (2025)
- GNI (current US$), per capita 1,186 current US$ per person (2025)
- GNI (current LCU), annual growth rate 17.36 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 1,471 current LCU per US$ of GDP (2025)
Frequently asked questions
- What is inflation of consumer prices in Nigeria?
- Inflation of consumer prices in Nigeria was 23.01 in 2025, according to Our World in Data.
- What is the highest inflation of consumer prices recorded in Nigeria?
- The highest recorded value was 72.84 in 1995.
- What is the lowest inflation of consumer prices recorded in Nigeria?
- The lowest recorded value was -3.73 in 1967.
- How does Nigeria rank for inflation of consumer prices?
- Nigeria ranks 11th out of 190 countries with data for 2025.
- Is inflation of 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 Our World in Data, published as part of Inflation of consumer prices. Statizoid updates them automatically from the source API.
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