Inflation in Nigeria

Nigeria Inflation | Economic News & Forecasts

Nigeria - Inflation

Inflation inches up in April

Consumer prices rose 0.94% on a month-on-month basis in April, up from March’s 0.79% climb. The acceleration was largely driven by faster growth of food prices.

Inflation ticked up from 11.3% in March to 11.4% in April. Thus, it moved further above the Central Bank’s target range of 6.0%–9.0%.

Meanwhile, core consumer prices, which exclude volatile agricultural produce, rose 0.70% month-on-month in April, above March’s 0.53% increase. In addition, core inflation edged down to an over three-year low of 9.3% in April (March: 9.5%).

FocusEconomics Consensus Forecast panelists expect inflation to average 11.7% in 2019, which is down 0.2 percentage points from last month’s forecast. In 2020, inflation is seen averaging 11.5%.

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 Yield14.550.0 %Jun 13
Exchange Rate306.53.08 %Jun 13
Stock Market0.10.0 %Jun 13

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