Nigeria Inflation Rate 1960-2020

Inflation as measured by the consumer price index reflects 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 Laspeyres formula is generally used.
  • Nigeria inflation rate for 2019 was 11.40%, a 0.7% decline from 2018.
  • Nigeria inflation rate for 2018 was 12.09%, a 4.43% decline from 2017.
  • Nigeria inflation rate for 2017 was 16.52%, a 0.85% increase from 2016.
  • Nigeria inflation rate for 2016 was 15.68%, a 6.67% increase from 2015.
Data Source: World Bank

MLA Citation:
Similar Country Ranking
Country Name Inflation Rate (%)
Sudan 50.99%
Angola 17.15%
Nigeria 11.40%
Pakistan 10.58%
Zambia 9.15%
Myanmar 8.83%
Ukraine 7.89%
India 7.66%
Mongolia 7.30%
Ghana 7.18%
Tunisia 6.72%
Bangladesh 5.59%
Nicaragua 5.38%
Lesotho 5.19%
Georgia 4.85%
Moldova 4.84%
Honduras 4.37%
Papua New Guinea 3.64%
Sri Lanka 3.53%
Lao PDR 3.32%
Djibouti 3.32%
Indonesia 3.03%
Vietnam 2.80%
Vanuatu 2.76%
Bhutan 2.73%
Kosovo 2.68%
Philippines 2.48%
Cameroon 2.45%
Mauritania 2.30%
Congo, Rep. 2.21%
Bolivia 1.84%
Solomon Islands 1.63%
West Bank and Gaza 1.58%
Kyrgyz Republic 1.13%
Cabo Verde 1.11%
Morocco 0.20%
El Salvador 0.08%
Nigeria Inflation Rate - Historical Data
Year Inflation Rate (%) Annual Change
2019 11.40% -0.70%
2018 12.09% -4.43%
2017 16.52% 0.85%
2016 15.68% 6.67%
2015 9.01% 0.95%
2014 8.06% -0.41%
2013 8.48% -3.74%
2012 12.22% 1.38%
2011 10.84% -2.88%
2010 13.72% 1.17%
2009 12.56% 0.97%
2008 11.58% 6.19%
2007 5.39% -2.84%
2006 8.23% -9.64%
2005 17.86% 2.87%
2004 15.00% 0.97%
2003 14.03% 1.16%
2002 12.88% -6.00%
2001 18.87% 11.94%
2000 6.93% 0.31%
1999 6.62% -3.38%
1998 10.00% 1.47%
1997 8.53% -20.74%
1996 29.27% -43.57%
1995 72.84% 15.80%
1994 57.03% -0.13%
1993 57.17% 12.58%
1992 44.59% 31.58%
1991 13.01% 5.64%
1990 7.36% -43.10%
1989 50.47% -4.04%
1988 54.51% 43.22%
1987 11.29% 5.57%
1986 5.72% -1.72%
1985 7.44% -10.39%
1984 17.82% -5.39%
1983 23.21% 15.51%
1982 7.70% -13.12%
1981 20.81% 10.84%
1980 9.97% -1.74%
1979 11.71% -10.00%
1978 21.71% 6.62%
1977 15.09% -9.21%
1976 24.30% -9.66%
1975 33.96% 21.29%
1974 12.67% 7.27%
1973 5.40% 1.95%
1972 3.46% -12.54%
1971 16.00% 2.24%
1970 13.76% 3.60%
1969 10.16% 10.63%
1968 -0.48% 3.25%
1967 -3.73% -13.42%
1966 9.69% 5.59%
1965 4.10% 3.25%
1964 0.86% 3.55%
1963 -2.69% -7.96%
1962 5.27% -1.01%
1961 6.28% 0.83%
1960 5.44% 0.83%