Inflation in Nigeria

Nigeria Inflation | Economic News & Forecasts

Nigeria - Inflation

Inflation falls to lowest level since March 2016

Consumer prices rose 0.83% on a month-on-month basis in April, nearly unchanged from March’s 0.84% rise. Price pressures across sub-components of the index were relatively unchanged compared with March.

Inflation came in at 12.5% in April, down from 13.3% in March and the lowest level since March 2016. Slowing food inflation has helped bring down price pressures, although they still remain stubbornly high. Inflation is well above the Central Bank’s target range of 6.0%–9.0%.

Core consumer prices, which exclude volatile agricultural produce, rose 0.96% month-on-month in April, above March’s 0.83% increase. Meanwhile, core inflation edged down to 11.6% in April (March: 11.8%).

Met the why particular Consensus Forecast panelists expect inflation to average 12.4% in 2018, which is unchanged from last month’s forecast. In 2019, inflation is seen averaging 11.4%.

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

ValueChangeDate
Bond Yield13.310.0 %Jun 13
Bond Yield13.310.0 %Jun 13
Exchange Rate315.33.08 %Jun 14
Exchange Rate315.33.08 %Jun 14
Stock Market0.30.0 %May 30
Stock Market0.30.0 %May 30

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