Annual Inflation Rate of Nigeria
Updated on February 12, 2022.

The annual inflation rate of Nigeria as measured by the consumer prices index was 11.4% in 2019, a difference of -0.7% (5.78% decrease) from 2018, according to recent data from the World Bank.

The World Bank defines inflation measured by the consumer price index as "the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly".

The chart and table below shows the Inflation of Nigeria for 1960 - 2019.

Data Source: World Bank.
Annual Inflation Rate of Nigeria (%)
Table of Annual Inflation Rate of Nigeria
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Year Inflation (%)
1960 5.44
1961 6.28
1962 5.27
1963 -2.69
1964 0.86
1965 4.1
1966 9.69
1967 -3.73
1968 -0.48
1969 10.16
1970 13.76
1971 16
1972 3.46
1973 5.4
1974 12.67
1975 33.96
1976 24.3
1977 15.09
1978 21.71
1979 11.71
1980 9.97
1981 20.81
1982 7.7
1983 23.21
1984 17.82
1985 7.44
1986 5.72
1987 11.29
1988 54.51
1989 50.47
1990 7.36
1991 13.01
1992 44.59
1993 57.17
1994 57.03
1995 72.84
1996 29.27
1997 8.53
1998 10
1999 6.62
2000 6.93
2001 18.87
2002 12.88
2003 14.03
2004 15
2005 17.86
2006 8.23
2007 5.39
2008 11.58
2009 12.56
2010 13.72
2011 10.84
2012 12.22
2013 8.48
2014 8.06
2015 9.01
2016 15.68
2017 16.52
2018 12.1
2019 11.4