Nigeria's consumer price inflation fell to 11.22 percent year-on-year in June 2019 from 11.40 percent in the previous month. That was the lowest inflation rate since July 2018, as prices rose at a softer pace for almost all categories. Annual core inflation, which excludes price of volatile agricultural products, fell to 8.84 percent in June, its lowest level since January 2016. Inflation Rate in Nigeria averaged 12.44 percent from 1996 until 2019, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000.
Inflation Rate in Nigeria is expected to be 11.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Nigeria to stand at 11.80 in 12 months time. In the long-term, the Nigeria Inflation Rate is projected to trend around 11.40 percent in 2020, according to our econometric models.