Cost of food in Nigeria surged 19.5 percent from a year earlier in May of 2022, accelerating from an 18.37 percent rise in the previous month. It was the highest food inflation since last September as the country is still largely dependent on agricultural imports, especially grains. source: National Bureau of Statistics, Nigeria

Food Inflation in Nigeria averaged 12.26 percent from 1996 until 2022, reaching an all time high of 39.54 percent in September of 2001 and a record low of -17.50 percent in January of 2000. This page provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Food Inflation - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

Food Inflation in Nigeria is expected to be 20.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Food Inflation is projected to trend around 8.50 percent in 2023 and 7.00 percent in 2024, according to our econometric models.

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Nigeria Food Inflation

Calendar GMT Actual Previous Consensus TEForecast
2022-05-16 09:40 AM Apr 18.37% 17.2% 17.7%
2022-06-15 11:00 AM May 19.5% 18.37% 18.6%
2022-07-15 11:00 AM Jun 19.5% 20%

Related Last Previous Unit Reference
Inflation Rate 17.71 16.82 percent May 2022
Consumer Price Index CPI 447.20 439.40 points May 2022
Core Consumer Prices 380.30 373.30 points May 2022
Core Inflation Rate 14.90 14.18 percent May 2022
Food Inflation 19.50 18.37 percent May 2022
Inflation Rate Mom 1.78 1.76 percent May 2022
CPI Transportation 389.70 383.70 points May 2022
CPI Housing Utilities 380.70 375.50 points May 2022
GDP Deflator 242.39 243.29 points Dec 2021