Nigeria’s annual inflation rate eased slightly for the third straight month to 17.75% in June of 2021, from 17.93% in May, amid a small slowdown in prices of food & non-alcoholic beverages (21.83% vs 22.28% in May) and despite an official 7.7% naira devaluation in May. In addition, annual core inflation excluding prices of agricultural produce was slower at 13.09% in June (vs 13.15%). On a monthly basis, consumer prices inched up 1.06%, following a 1.01% rise in the previous month. source: National Bureau of Statistics, Nigeria
Inflation Rate in Nigeria averaged 12.56 percent from 1996 until 2021, 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. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Inflation Rate in Nigeria is expected to be 17.00 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 12.50 in 12 months time. In the long-term, the Nigeria Inflation Rate is projected to trend around 12.00 percent in 2022 and 9.50 percent in 2023, according to our econometric models.