Recent Releases

Nigeria Inflation Rate Slows Less Than Expected
Nigeria’s inflation rate decreased to 11.6 percent in May of 2018 from 12.5 percent in the prior month and slightly above market expectations of 11.4 percent. It was the lowest inflation rate since February of 2016, as prices of food & non-alcoholic beverages, housing & utilities, clothing & footwear and transport grew at a slower pace.
Published on 2018-06-13

Nigeria Inflation Rate Edges Down to 12.5% in April
Nigeria’s annual inflation rate decreased to 12.5 percent in April of 2018 from 13.3 percent in the prior month and in line with market expectations. It was the lowest inflation rate since February of 2016, as prices of food and non-alcoholic beverages and housing and utilities grew at a slower pace.
Published on 2018-05-15

Nigeria Inflation Rate Slows to 2-Year Low in March
Consumer prices in Nigeria advanced 13.3 percent year-on-year in March of 2018, easing from a 14.3 percent gain in the previous month and below market consensus of a 14.5 percent rise. It was the lowest inflation rate since March of 2016, mainly due to a slowdown in prices of food and housing and utilities.
Published on 2018-04-12

Nigeria Inflation Rate Drops to Lowest Since 2016
Consumer prices in Nigeria increased 14.33 percent year-on-year in February of 2018, slowing from a 15.13 percent gain in the prior month and below market expectations of 14.5 percent. It was the lowest inflation rate since April 2016 as cost rose less for food and non-alcoholic beverages and housing and utilities.
Published on 2018-03-14

Nigeria Inflation Rate Lowest in 19 Months
Consumer prices in Nigeria rose 15.13 percent year-on-year in January of 2018, easing from a 15.37 percent rise in the previous month and slightly above market expectations of 15.05 percent. It was the lowest inflation rate since April 2016 as cost grew less for food and non-alcoholic beverages, clothing and footwear and education.
Published on 2018-02-14

Nigeria Inflation Rate Falls to Lowest Since 2016
Consumer prices in Nigeria increased 15.4 percent year-on-year in December of 2017, following a 15.9 percent rise in the previous month and below market expectations of 15.8 percent. The inflation remained at its lowest level since April of 2016 and slowed for the eleventh consecutive month, as cost increased less mainly for food and non-alcoholic beverages and housing and utilities.
Published on 2018-01-16

Nigeria Inflation Rate Remains Lowest Since 2016
Consumer prices in Nigeria increased 15.9 percent year-on-year in November of 2017, nearly the same as in the previous month. Still, the inflation remained at its lowest level since May of 2016 as cost increased less for housing and utilities and clothing and footwear. Meantime, food inflation also remained almost unchanged at 20.3 percent.
Published on 2017-12-18

Nigeria Inflation Rate Edges Down to 15.91% in October
Consumer prices in Nigeria increased 15.91 percent year-on-year in October 2017, easing from 15.98 percent in September and in line with market expectations of 15.9 percent. The inflation slowed for the ninth consecutive month to its lowest level since May 2017 due to lower prices of education and housing utilities. Meantime, food inflation hit its highest level since July 2008 and transport prices increased further.
Published on 2017-11-15

Nigeria Inflation Rate Lowest in 16 Months
Consumer prices in Nigeria increased 15.98 percent year-on-year in September of 2017, dropping slightly from 16.01 percent in August and in line with market expectations of 16 percent. The inflation slowed for the eighth consecutive month to its lowest level since May of 2016, as prices rose at a softer pace for housing and utilities, and clothing and footwear. Meantime, food inflation hit its highest level since July 2008 and transport prices rose further.
Published on 2017-10-17

Nigeria Inflation Rate Falls Slightly to 16.01% in August
Consumer Prices in Nigeria increased 16.01 percent year-on-year in August of 2017, following a 16.05 percent rise in July and in line with market expectations of 16 percent. It is the seventh consecutive decline in inflation and a new low since May of 2016. The highest increases were seen in prices of clothing materials and articles of clothing, garments, passenger transport by air, motorcycles, shoes and other footwear. On the other hand, food inflation edged down to 20.25 percent from 20.28 percent in July which was the highest since the new CPI series began in 2009.
Published on 2017-09-15

Nigeria Inflation Rate Edges Down to 16.05% in July
Consumer prices in Nigeria increased 16.05 percent year-on-year in July of 2017, easing slightly from a 16.1 percent rise in June and compared to market expectations of 16 percent. It is the lowest reading since May of 2016 amid a slowdown in cost of housing and energy. On the other hand, food inflation hit the highest since the new CPI series began in 2009.
Published on 2017-08-28

Nigeria Inflation Rate Lowest In Over 1 Year
Consumer prices in Nigeria increased 16.10 percent year-on-year in June of 2017, the least in 13 months, compared to 16.25 percent in the previous month. it was the fifth consecutive month of decline in inflation rate as non-food prices grew less.
Published on 2017-07-17

Nigeria Inflation Rate Slows To 1-Year Low In May
Nigeria's consumer prices increased 16.25 percent year-on-year in May of 2017, easing from a 17.24 percent rise in the previous month. The inflation rate fell for the fourth straight month to the lowest in 12 months, led by a general slowdown in prices. Annual core inflation rate was 13.02 percent, the lowest since March last year. On a monthly basis, consumer prices increased 1.88 percent.
Published on 2017-06-15

Nigeria Inflation Rate Slows For The 3rd Month
Nigeria's consumer prices increased 17.24 percent year-on-year in April of 2017, easing slightly from a 17.26 percent rise in the prior month. The inflation rate fell for the third straight month to the lowest in nine months, led by a slowdown in prices of housing and utilities and transport. Annual core inflation rate was 14.75 percent, the lowest since April last year. On a monthly basis, consumer prices increased 1.60 percent.
Published on 2017-05-16

Nigeria Inflation Rate Slows For The 2nd Month
Nigeria's consumer prices increased 17.26 percent year-on-year in March of 2017, easing from a 17.78 percent rise in the previous month. The inflation rate slowed for the second straight month, due to food and non-food prices, namely housing and utilities, clothing and footwear and transport.
Published on 2017-04-13

Nigeria Inflation Rate Slows to 17.78% in February
Nigeria's consumer prices increased by 17.78 percent year-on-year in February of 2017, following 18.72 percent gain in the previous month. The inflation rate slowed for the first time in fifteen months, mainly due to non-food prices.
Published on 2017-03-14

Nigeria Inflation Rate Highest Since September 2005
Nigeria's consumer prices increased by 18.72 percent year-on-year in January of 2017, following 18.55 percent rise in the previous month. The inflation rate accelerated for the 12th straight month to the highest since September 2005, as prices continued to rise for food and housing and utilities.
Published on 2017-02-15

Nigeria Inflation Rate Highest Since October 2005
Nigeria's consumer prices increased by 18.55 percent year-on-year in December 2016, following a 18.48 percent rise in the previous month. The inflation rate accelerated for the 11th straight month to the highest since October 2005, as prices continued to rise for housing, electricity and food.
Published on 2017-01-13

Nigeria Inflation Rate Highest Since October 2005
Nigeria's consumer prices increased by 18.48 percent year-on-year in November 2016, following a 18.3 percent growth in the previous month and above market expectations of a 18.4 percent gain. The inflation rate accelerated for the 10th straight month to the highest level since at least October 2005, as prices continued to rise for housing, electricity and food. On a monthly basis, consumer prices went up 0.8 percent at the same pace as in the previous period.
Published on 2016-12-15

Nigeria Inflation Rate Rises to 18.3% in October
Nigeria's consumer prices increased by 18.3 percent year-on-year in October 2016, following a 17.9 percent growth in the previous month and above market expectations of 18.2 percent. It was the highest inflation rate since October 2005, as prices for food continued to rise.
Published on 2016-11-14

Nigeria Inflation Rate Hits Fresh 11-Year High
Consumer prices in Nigeria went up by 17.9 percent year-on-year in September of 2016, following a 17.6 percent rise in the previous month and in line with market expectations. It was the highest reading since October 2005 boosted by cost of food, housing and utilities and transport.
Published on 2016-10-14

Nigeria Inflation Rate Highest Since 2005
Consumer prices in Nigeria rose by 17.6 percent year-on-year in August of 2016, following a 17.1 percent gain in the previous month. It was the highest figure since October 2005 as cost of housing and utilities, food and transport rose at a faster pace.
Published on 2016-09-16

Nigeria Inflation Rate Hits Fresh 11-Year High in July
Consumer prices in Nigeria jumped by 17.1 percent year-on-year in July of 2016, following a 16.5 percent increase in the previous month, compared to market expectation of 17.15 percent rise. It was the highest record since October 2005 as weak naira keeps pushing up food prices.
Published on 2016-08-31

Nigeria Inflation Rate Highest Since 2005 in June
Consumer prices in Nigeria surged by 16.5 percent year-on-year in June of 2016, following a 15.6 percent jump in May. Figures came above market expectations of 16.3 percent increase, mostly driven by sharper rise in cost of food, housing and utilities.
Published on 2016-08-20

Nigeria Inflation Rate Highest Since February 2010
Consumer prices in Nigeria jumped 15.6 percent year-on-year in May of 2016, following a 13.7 percent rise in the previous month. It was the highest reading in more than 6 years, as cost of food, housing, utilities and transport surged mostly due to 67 percent increase in gasoline prices. Nigeria struggles with rising import cost due to a weak naira after lower oil prices led to a decline in foreign reserves and as oil production reached a historical low in May after Niger Delta Avengers attacked Chevron oil facilities. On a monthly basis, consumer prices went up 2.75 percent.
Published on 2016-06-14

Nigeria Inflation Rate Jumps to Nearly 6-Year High
Consumer prices in Nigeria surged 13.7 percent year-on-year in April of 2016, compared to a 12.8 jump in the previous month. The inflation rate accelerated for the third straight month, reaching the highest since August of 2010, boosted by higher cost of food, electricity, due to the effect of higher tariffs assigned in February and transport.
Published on 2016-05-16

Nigeria Inflation Rate at Nearly 4-Year High
Consumer prices in Nigeria increased 12.8 percent year-on-year in March of 2016, following a 11.4 percent jump in the previous month. It was the highest figure since July 2012, mainly boosted by food prices.
Published on 2016-04-12

Nigeria Inflation Rate Hits Double Digit
Consumer prices in Nigeria jumped 11.4 percent year-on-year in February of 2016, following a 9.6 percent increase in the previous month and way above market expectations of a 10 percent rise. It is the highest reading since December 2012, as a falling naira keeps pushing import prices up, mainly food.
Published on 2016-03-15

Nigeria Inflation Rate Steady at 9.6% in January
Annual inflation rate in Nigeria came in at 9.6 percent in January of 2016, the same as previous month and the highest since December of 2012 as a falling naira keeps pushing import prices up, mainly food.
Published on 2016-02-15

Nigeria Inflation Rate at 3-Year High
Consumer prices in Nigeria went up 9.6 percent year-on-year in December of 2015, compared to a 9.4 percent rise in the previous month. The inflation rate reached the highest since December of 2012 as a falling naira keeps pushing import prices up, mainly food.
Published on 2016-01-18

Nigeria Inflation Rate Rises to 9.4% in November
Consumer prices in Nigeria went up by 9.4 percent year-on-year in November of 2015, following a 9.3 percent increase in the previous month. The rise was mainly driven by higher food and non-alcoholic prices due to a fuel shortage.
Published on 2015-12-14

Nigeria Inflation Rate Slows Slightly in October
Consumer prices in Nigeria went up 9.3 percent year-on-year in October of 2015 after rising 9.4 percent in the previous month. The inflation rate eased for the first time in eleven months mainly due to slower increases in cost of food, housing and utilities.
Published on 2015-11-16

Nigeria Inflation Rate Edges Up in September
Annual inflation rate in Nigeria rose to 9.4 percent in September of 2015, following a 9.3 percent growth in the previous month. It was the highest value since February of 2013, driven by increased food price during the Muslim holiday period.
Published on 2015-10-14

Nigeria Inflation Rate Unchanged at 9.2%
Annual inflation rate in Nigeria rose by 9.2 percent in July of 2015, remained steady from the previous month.
Published on 2015-08-12

Nigeria Inflation Rate Highest In More Than 2 Years
Annual inflation rate in Nigeria rose for the seventh consecutive month to 9.2 percent in June of 2015 from a 9.0 percent in May. It was the highest figure since February of 2013, mainly driven by food price.
Published on 2015-07-14

Nigeria Inflation Rate Highest In 2-Years
Annual inflation rate in Nigeria rose for the sixth consecutive month to 9 percent in May of 2015 from a 8.7 percent in April, driven by food prices.
Published on 2015-06-12

Nigeria Inflation Rate at Nearly 2-Year High
Consumer prices in Nigeria rose 8.7 percent year-on-year in April of 2015, up from 8.5 percent in the previous month and the highest increase since July of 2013, mainly driven by food cost.
Published on 2015-05-14

Nigeria Inflation Rate Edges Up in March
Nigerian annual inflation rate rose for the fourth consecutive month to 8.5 percent in March of 2015, touching the highest in 7 months and driven by food prices.
Published on 2015-04-16

Nigeria Inflation Rate at 6-Month High
Nigeria annual inflation rate continued to grow to 8.4 percent in February of 2015 from 8.2 percent in the previous month, as a falling naira keep pushing imported food prices up.
Published on 2015-03-17

Nigeria Inflation Rate Highest in 4-Months
Nigeria annual inflation rate accelerated slightly to 8.2 percent in January of 2015 from 8 percent in the previous month, driven mostly by higher food, housing and utilities prices.
Published on 2015-02-16

Nigeria Inflation Rate Rises Sightly in December
Nigeria annual inflation edged up to 8 percent in December of 2014 from 7.9 percent in the previous month, as food prices increased for the first time in four months.
Published on 2015-01-20

Nigeria Inflation Rate Down to 7.9%
Nigerian annual inflation rate eased for the third straight month to 7.9 percent in November of 2014, slightly down from 8.1 percent in the previous month due to lower food prices.
Published on 2014-12-15

Nigeria Inflation Rate Slows in October
Nigerian annual inflation rate eased for the second consecutive month to 8.1 percent in October of 2014 from 8.3 percent in September, as food prices posted the lowest gain since March.
Published on 2014-11-10

Nigeria Inflation Rate Edges Down in September
Nigerian annual inflation rate slowed slightly to 8.3 percent in September of 2014 from 8.5 percent in August, as food prices eased for the first time in six months.
Published on 2014-10-15

Nigeria Inflation Rate Up to 8.5% in August
Nigeria annual inflation rate accelerated for the sixth consecutive month to 8.5 percent in August of 2014 from 8.3 percent in the previous month due to rising food and transport cost.
Published on 2014-09-15

Nigeria Inflation Rate Rises Further in July
Nigeria annual inflation rate accelerated further to 8.3 percent in July from 8.2 percent in the previous month. It the highest rate in twelve months, driven by higher food prices.
Published on 2014-08-18

Nigeria Inflation Rate Accelerates in June
Nigeria annual inflation rate accelerated for the fourth straight month to 8.2 percent in June of 2014 from 8 percent in May, due to higher food prices.
Published on 2014-07-16

Nigeria Inflation Rate Edges Up Slightly in May
Nigeria annual inflation rate accelerated slightly for the third straight month to 8.0 percent in May of 2014 from 7.9 percent in the previous month, as a result of higher food prices.
Published on 2014-06-16

Nigeria Inflation Rate Up to 7.9% in April
Nigerian annual consumer price inflation edged up to 7.9 percent in April from 7.8 percent in March as food prices rose.
Published on 2014-05-14

Nigerian Inflation Rate Edges Up Slightly in March
Consumer prices in Nigeria accelerated 7.8 percent in March of 2014 from 7.7 percent recorded in February, as food cost edged up.
Published on 2014-05-10

Nigeria Inflation Falls to 6-Year Low
In February of 2014, Nigeria annual inflation rate decelerated to 7.7 percent, down from 8 percent in January, as all consumer prices slowed. The central bank targets consumer inflation between 6 and 9 percent.
Published on 2014-03-17

Nigeria Inflation Rate Unchanged at 8% in January
In January of 2014, Nigeria annual inflation rate remained steady at 8 percent. All major prices were relatively unchanged for the second consecutive month at the single digit rate.
Published on 2014-02-13

Nigeria Inflation Rate Rises in December
In December of 2013, Nigeria annual inflation rate rose slightly to 8 percent, from 7.9 percent in November. Nigeria's central bank sets 2014 consumer inflation between 6 and 9 percent.
Published on 2014-01-14

Nigeria Inflation Rate Accelerates in November
In November of 2013, Nigeria inflation rate edged up for the first time in four months to 7.9 percent, mainly due to higher food prices. The October reading at 7.8 percent was the lowest in more than five years.
Published on 2013-12-16

Nigeria Inflation Rate Decelerates to 7.8% in October
In October of 2013, Nigeria annual inflation rate slowed for the third straight month to a new 5-year low of 7.8 percent, as food prices continue its downward trend as a result of the harvest season.
Published on 2013-11-14

Nigeria Inflation Rate Down to 8% In September
In September of 2013, Nigerian annual inflation rate eased to 8.0 percent, slightly down from 8.2 percent in the previous month, due to lower food prices.
Published on 2013-10-16

Nigeria Inflation Rate Slows to 5-Year Low in August
In August of 2013, Nigerian annual inflation rate eased to 8.2 percent, the lowest rate in more than five years, as food prices decelerated due to the onset of the harvest season.
Published on 2013-09-18

Nigeria Inflation Rate Up to 8.7% in July
In July of 2013, Nigeria's annual inflation rate increased to 8.7 percent, from 8.4 percent in June, mainly due to higher food and house prices. Yet, the quantity of new harvested crops has not been enough to impact prices and reduce the inflation rate.
Published on 2013-08-19

Nigeria Inflation Rate Down to 5-Year Low in June
In June of 2013, Nigeria's annual inflation rate dropped to 8.4 percent, from 9 percent in May, the lowest rate since April of 2008, as non-food prices slowed down.
Published on 2013-07-17

Nigeria Inflation Rate Down to 9% in May
In May of 2013, Nigeria's annual inflation rate dropped to 9 percent, from 9.1 percent in April as increase in food prices eased and the impact of last year’s higher fuel prices has been slowing down.
Published on 2013-06-17

Nigeria Inflation Rate Up to 9.1% in April
In April of 2013, the inflation rate rose by 9.1 percent year-on-year, compared to 8.6 percent in March. This is the fourth consecutive month of single digit year-on-year rates being recorded.
Published on 2013-05-16

Nigeria Inflation Rate Down to 8.6% in March
In March of 2013, Nigeria annual inflation rate slowed to 8.6 percent, the lowest rate since April of 2008.
Published on 2013-04-17

Nigeria Inflation Rate Up to 9.5% in February
In Nigeria, the inflation rate rose to 9.5 percent in February of 2013, mainly due to increases in farm producer prices.
Published on 2013-03-18

Nigeria Inflation Rate Down to 9% in January
In Nigeria, the inflation rate decreased to 9.0 percent in January of 2013, as the effect of a year-earlier reduction in fuel subsidies dropped out of the calculation and food prices decreased.
Published on 2013-02-18