Nigeria's inflation, consumer prices (annual %) is currently 18.85%
, according to the most recent World Bank data for the country (2022)
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.
- Nigeria's inflation, consumer prices (annual %) for 2022 was 18.847%, a 11.17% increase from 2021, with a +1 difference.
- In 2021 it was 16.953%, a 27.98% increase from 2020, with a +3 difference.
- In 2020 it was 13.246%, a 16.23% increase from 2019.
- In 2019 it was 11.396%, a -5.78% increase from 2018.
- In 2018 it was 12.095%, a -26.71% increase from 2017.
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for Nigeria is currently 15.8522% (average of years with recorded data) with a lowest recorded value of -3.7263% in 1967 and a highest value of 72.8355% in 1995.