Nigeria — Inflation
Inflation, Consumer Prices (Annual %) for Nigeria, 1960–2025.
Latest value · 2025
23.01%
Inflation, Consumer Prices (Annual %) · annual % · +322.6% since 1960
Inflation for Nigeria was 23.01% in 2025, according to the latest World Bank data. The series covers 66 years, from 1960 to 2025. The highest recorded value was 72.84% in 1995. The lowest was -3.73% in 1967 (about -6.2× the low point). Across that span the compound annual growth rate works out to 2.24% per year.
Nigeria ranks 9 of 187 economies on this measure (1 = highest), putting it in the top 5%. The median for Sub-Saharan Africa is 3.51%, so Nigeria sits above it. It peaked in 1995 and has fallen 68% since. Over the last decade (2015–2025) the figure moved up 155%.
Key figures
Latest (2025)
23.01%
First (1960)
5.44%
Change
+322.6%
Highest
72.84%
in 1995
Lowest
-3.73%
in 1967
Average
16.36%
Annual growth (CAGR)
2.24%
Years of data
66
Recent years
| Year | annual % |
|---|---|
| 2025 | 23.01% |
| 2024 | 33.24% |
| 2023 | 24.66% |
| 2022 | 18.85% |
| 2021 | 16.95% |
| 2020 | 13.25% |
| 2019 | 11.4% |
| 2018 | 12.1% |
| 2017 | 16.5% |
| 2016 | 15.7% |
| 2015 | 9.01% |
| 2014 | 8.05% |
Reading this correctly. Annual percentage change in the cost to the average consumer of acquiring a basket of goods and services. A negative value means deflation. Figures are in annual %. Comparing this series with a different measure of the same concept (for example a nominal figure against a purchasing-power-parity figure) will give misleading results.
Related data
Source. World Bank Open Data, indicator
FP.CPI.TOTL.ZG — Inflation, Consumer Prices (Annual %). Data licensed under CC BY 4.0. Values are reproduced as published; this page computes the summary statistics (change, CAGR, extremes) from the underlying annual series. View the original dataset on data.worldbank.org.