Cost of food in Nigeria increased 22.28 percent in May of 2021 over the same month in the previous year. source: National Bureau of Statistics, Nigeria

Food Inflation in Nigeria averaged 12.01 percent from 1996 until 2021, 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 2021.

Food Inflation in Nigeria is expected to be 24.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Nigeria to stand at 14.30 in 12 months time. In the long-term, the Nigeria Food Inflation is projected to trend around 13.00 percent in 2022 and 10.00 percent in 2023, according to our econometric models.

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Nigeria Food Inflation

Actual Previous Highest Lowest Dates Unit Frequency
22.28 22.72 39.54 -17.50 1996 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-16 07:30 AM Feb 21.79% 20.57% 21.8%
2021-04-15 07:30 AM Mar 22.95% 21.79% 22.6%
2021-05-17 03:00 PM Apr 22.72% 22.95% 23.2%
2021-06-15 01:15 PM May 22.28% 22.72% 23.1%
2021-07-15 07:30 AM Jun 22.28%
2021-08-16 12:00 PM Jul
2021-09-15 07:30 AM Aug
2021-10-15 07:30 AM Sep

Nigeria Prices Last Previous Highest Lowest Unit
Inflation Rate 17.93 18.12 47.56 -2.49 percent [+]
Consumer Price Index CPI 379.90 376.10 379.90 14.36 points [+]
Core Consumer Prices 330.95 326.91 330.95 69.00 points [+]
Core Inflation Rate 13.20 12.70 19.28 0.49 percent [+]
Food Inflation 22.28 22.72 39.54 -17.50 percent [+]
Inflation Rate Mom 1.01 0.97 8.93 -3.50 percent [+]
GDP Deflator 223.92 219.30 223.92 0.60 points [+]
Cpi Housing Utilities 334.40 332.10 334.40 7.80 points [+]
CPI Transportation 331.20 327.60 331.20 68.50 points [+]