Inflation in Nigeria

Nigeria Inflation | Economic News & Forecasts

Nigeria - Inflation

Inflation edges up for the first time in 19 months but stays near the two-and-a-half year low in August

Consumer prices rose 1.05% on a month-on-month basis in August, slightly below July’s 1.13%. The result marked the second consecutive month of easing price pressures and the lowest print since April.

Inflation came in at 11.2% in August, edging up from July’s 11.1%—the first uptick in the headline rate since January 2017. As a result, inflation remained well above the Central Bank’s target range of 6.0%–9.0%.

Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.78% month-on-month in August, below July’s 0.81% increase. Furthermore, core inflation fell to 11.0% in August (July: 11.2%).

Nigeria Inflation Forecast

Met the why particular Consensus Forecast panelists expect inflation to average 12.0% in 2018. In 2019, inflation is seen averaging 11.1%.

Nigeria - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)8.5  8.1  9.0  15.7  16.5  

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Nigeria Inflation Chart

Nigeria Inflation
Note: Inflation, annual average variation of consumer price index (CPI) in %.
Source: National Bureau of Statistics

Nigeria Facts

Bond Yield14.920.0 %Oct 16
Exchange Rate306.03.08 %Oct 16
Stock Market0.10.0 %Oct 16

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