Nigeria Consumer Price Index CPI Growth
1961 - 2024 | Monthly | % | CEIC Data
Key information about Nigeria Consumer Price Index CPI growth
- Nigeria Consumer Price Index (CPI) growth was measured at 33.2 % YoY in Mar 2024, compared with a rate of 31.7 % in the previous month.
- Nigeria Consumer Price Index growth data is updated monthly, available from Jan 1961 to Mar 2024, with an averaged number of 12.4 % YoY.
- The data reached an all-time high of 89.6 % YoY in Jun 1995 and a record low of -7.8 % YoY in Oct 1967.
CEIC calculates Consumer Price Index Growth from monthly Consumer Price Index. The National Bureau of Statistics provides Consumer Price Index with base November 2009=100. Consumer Price Index Growth prior to January 1996 is sourced from the International Monetary Fund.
View Nigeria's Consumer Price Index CPI Growth from Jan 1961 to Mar 2024 in the chart:
What was Nigeria's Consumer Price Index CPI Growth in Mar 2024?
Nigeria Consumer Price Index (CPI) growth was measured at 33.2 % YoY in Mar 2024, compared with a rate of 31.7 % in the previous month. See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 33.2 Mar 2024 | 31.7 Feb 2024 | -7.8 Oct 1967 | 89.6 Jun 1995 | % | monthly | Jan 1961 - Mar 2024 |
Consumer Price Index CPI Growth by Country Comparison
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Includes Consumer Price Index CPI Growth on 116 economies standardised by CEIC. Instant access to full history data in excel.
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 4.2 Jul 2023 | monthly | Jan 1992 - Jul 2023 |
| Algeria (%) | 4.6 Feb 2024 | monthly | Jan 1975 - Feb 2024 |
| Argentina (%) | 287.9 Mar 2024 | monthly | Dec 2017 - Mar 2024 |
| Armenia (%) | -1.2 Mar 2024 | monthly | Dec 1993 - Mar 2024 |
| Australia (%) | 4.0 Dec 2023 | quarterly | Dec 1987 - Dec 2023 |
| Austria (%) | 4.5 Jan 2024 | monthly | Jan 1949 - Jan 2024 |
| Azerbaijan (%) | 9.4 Jul 2023 | monthly | Jan 1992 - Jul 2023 |
| Bahrain (%) | 0.4 Jun 2023 | monthly | Aug 2008 - Jun 2023 |
| Bangladesh (%) | 9.3 Mar 2023 | monthly | Jul 1994 - Mar 2023 |
| Belarus (%) | 3.5 May 2023 | monthly | Jan 1992 - May 2023 |
| Belgium (%) | 5.6 Apr 2023 | monthly | Jan 1921 - Apr 2023 |
| Bolivia (%) | 3.1 Mar 2024 | monthly | Jan 1938 - Mar 2024 |
| Bosnia and Herzegovina (%) | 10.3 Mar 2023 | monthly | Jan 2006 - Mar 2023 |
| Botswana (%) | 3.9 Feb 2024 | monthly | Jun 1975 - Feb 2024 |
| Brazil (%) | 3.9 Mar 2024 | monthly | Dec 1980 - Mar 2024 |
| Brunei (%) | 0.8 May 2023 | monthly | Jan 2001 - May 2023 |
| Bulgaria (%) | 3.0 Mar 2024 | monthly | May 1991 - Mar 2024 |
| Cambodia (%) | -0.3 Feb 2024 | monthly | Oct 1995 - Feb 2024 |
| Canada (%) | 2.9 Mar 2024 | monthly | Jan 1993 - Mar 2024 |
| Chile (%) | 6.5 Jul 2023 | monthly | Jan 1971 - Jul 2023 |
| China (%) | 0.1 Mar 2024 | monthly | Jan 1985 - Mar 2024 |
| Colombia (%) | 7.4 Mar 2024 | monthly | Jul 1955 - Mar 2024 |
| Croatia (%) | 4.1 Mar 2024 | monthly | Jan 1987 - Mar 2024 |
| Cyprus (%) | 1.5 Jul 2023 | monthly | Jan 1958 - Jul 2023 |
| Czech Republic (%) | 8.8 Jul 2023 | monthly | Jan 1994 - Jul 2023 |
| Denmark (%) | 3.1 Jul 2023 | monthly | Jan 1968 - Jul 2023 |
| Ecuador (%) | 2.1 Jul 2023 | monthly | Jan 1958 - Jul 2023 |
| Egypt (%) | 33.3 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Estonia (%) | 3.9 Mar 2024 | monthly | Jan 1993 - Mar 2024 |
| European Union (%) | 2.6 Mar 2024 | monthly | Jan 1997 - Mar 2024 |
| Finland (%) | 6.5 Jul 2023 | monthly | Jan 1980 - Jul 2023 |
| France (%) | 2.3 Mar 2024 | monthly | Jan 1991 - Mar 2024 |
| Georgia (%) | 0.3 Jul 2023 | monthly | Jan 1995 - Jul 2023 |
| Germany (%) | 2.2 Mar 2024 | monthly | Jun 1949 - Mar 2024 |
| Ghana (%) | 25.8 Mar 2024 | monthly | Mar 1964 - Mar 2024 |
| Greece (%) | 3.2 Mar 2024 | monthly | Jan 1956 - Mar 2024 |
| Hong Kong SAR, China (%) | 2.2 Feb 2024 | monthly | Oct 2000 - Feb 2024 |
| Hungary (%) | 3.6 Mar 2024 | monthly | Jan 1977 - Mar 2024 |
| Iceland (%) | 6.8 Mar 2024 | monthly | Jan 1977 - Mar 2024 |
| India (%) | 4.9 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Indonesia (%) | 3.1 Jul 2023 | monthly | Jan 1969 - Jul 2023 |
| Iran (%) | 35.8 Feb 2024 | monthly | Jan 1958 - Feb 2024 |
| Ireland (%) | 2.8 Mar 2024 | monthly | Nov 1976 - Mar 2024 |
| Israel (%) | 2.7 Mar 2024 | monthly | Jan 1993 - Mar 2024 |
| Italy (%) | 1.2 Mar 2024 | monthly | Jan 1956 - Mar 2024 |
| Ivory Coast (%) | 3.1 Jan 2024 | monthly | Jan 1961 - Jan 2024 |
| Japan (%) | 2.8 Mar 2024 | monthly | Jan 1996 - Mar 2024 |
| Jordan (%) | 0.9 Jul 2023 | monthly | Jan 1999 - Jul 2023 |
| Kazakhstan (%) | 14.0 Jul 2023 | monthly | Jan 1994 - Jul 2023 |
| Kenya (%) | 5.7 Mar 2024 | monthly | Mar 1963 - Mar 2024 |
| South Korea (%) | 2.3 Jul 2023 | monthly | Aug 1952 - Jul 2023 |
| Kosovo (%) | 2.3 Mar 2024 | monthly | May 2003 - Mar 2024 |
| Kuwait (%) | 3.4 Feb 2024 | monthly | Jul 1992 - Feb 2024 |
| Kyrgyzstan (%) | 5.2 Mar 2024 | monthly | Jan 1996 - Mar 2024 |
| Laos (%) | 25.0 Mar 2024 | monthly | May 1994 - Mar 2024 |
| Latvia (%) | 0.9 Mar 2024 | monthly | Jan 1992 - Mar 2024 |
| Lebanon (%) | 268.8 Apr 2023 | monthly | Dec 2008 - Apr 2023 |
| Lithuania (%) | 7.4 Jul 2023 | monthly | Dec 1991 - Jul 2023 |
| Luxembourg (%) | 3.1 Mar 2024 | monthly | Jan 1956 - Mar 2024 |
| Macau SAR, China (%) | 1.5 Feb 2024 | monthly | Jan 1989 - Feb 2024 |
| North Macedonia (%) | 4.0 Mar 2024 | monthly | Jan 1994 - Mar 2024 |
| Malawi (%) | 33.5 Feb 2024 | monthly | Jan 1981 - Feb 2024 |
| Malaysia (%) | 1.8 Feb 2024 | monthly | Jan 1958 - Feb 2024 |
| Malta (%) | 2.7 Mar 2024 | monthly | Jan 1997 - Mar 2024 |
| Mauritius (%) | 4.9 Mar 2024 | monthly | Jul 1963 - Mar 2024 |
| Mexico (%) | 4.4 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Moldova (%) | 10.8 Jul 2023 | monthly | Jan 1992 - Jul 2023 |
| Mongolia (%) | 7.0 Mar 2024 | monthly | Oct 1992 - Mar 2024 |
| Montenegro (%) | 6.9 Jul 2023 | monthly | Jan 2008 - Jul 2023 |
| Morocco (%) | 0.9 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Mozambique (%) | 9.6 Apr 2023 | monthly | Dec 1996 - Apr 2023 |
| Myanmar (%) | 19.5 Jul 2022 | monthly | Oct 2008 - Jul 2022 |
| Nepal (%) | 4.8 Mar 2024 | monthly | Jul 1964 - Mar 2024 |
| Netherlands (%) | 3.1 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| New Zealand (%) | 6.7 Mar 2023 | quarterly | Jun 1915 - Mar 2023 |
| Nigeria (%) | 33.2 Mar 2024 | monthly | Jan 1961 - Mar 2024 |
| Norway (%) | 3.9 Mar 2024 | monthly | Jan 1986 - Mar 2024 |
| Oman (%) | 1.6 Mar 2023 | monthly | Jan 2002 - Mar 2023 |
| Pakistan (%) | 23.1 Feb 2024 | monthly | Jan 1958 - Feb 2024 |
| Palestinian Territory (%) | 3.9 May 2023 | monthly | Jan 1997 - May 2023 |
| Panama (%) | 1.7 Mar 2024 | monthly | Jul 1975 - Mar 2024 |
| Paraguay (%) | 3.6 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Peru (%) | 2.7 Mar 2024 | monthly | Jan 1958 - Mar 2024 |
| Philippines (%) | 3.4 Feb 2024 | monthly | Jan 1958 - Feb 2024 |
| Poland (%) | 2.4 Apr 2024 | monthly | Jan 1989 - Apr 2024 |
| Portugal (%) | 2.3 Mar 2024 | monthly | Jan 1949 - Mar 2024 |
| Qatar (%) | 1.1 Mar 2024 | monthly | Mar 2015 - Mar 2024 |
| Romania (%) | 9.4 Jul 2023 | monthly | Oct 1991 - Jul 2023 |
| Russia (%) | 4.3 Jul 2023 | monthly | Jan 1993 - Jul 2023 |
| Saudi Arabia (%) | 1.6 Mar 2024 | monthly | Feb 1981 - Mar 2024 |
| Serbia (%) | 12.5 Jul 2023 | monthly | Feb 1995 - Jul 2023 |
| Singapore (%) | 5.7 Apr 2023 | monthly | Jan 1962 - Apr 2023 |
| Slovakia (%) | 9.7 Jul 2023 | monthly | Jan 1992 - Jul 2023 |
| Slovenia (%) | 3.6 Mar 2024 | monthly | Jan 1981 - Mar 2024 |
| South Africa (%) | 6.8 Apr 2023 | monthly | Jan 1958 - Apr 2023 |
| Spain (%) | 3.2 Mar 2024 | monthly | Mar 1955 - Mar 2024 |
| Sri Lanka (%) | 5.1 Feb 2024 | monthly | Jan 1960 - Feb 2024 |
| Sudan (%) | 63.3 Feb 2023 | monthly | Jan 1958 - Feb 2023 |
| Sweden (%) | 9.3 Jul 2023 | monthly | Jan 1956 - Jul 2023 |
| Switzerland (%) | -0.5 Jan 2021 | monthly | Jan 1922 - Jan 2021 |
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| Government and Public Finance | Last | Frequency | Range |
|---|---|---|---|
| Consolidated Fiscal Balance: % of GDP (%) | -4.8 Sep 2023 | quarterly | Dec 2010 - Sep 2023 |
| Consolidated Fiscal Balance (USD mn) | -3,071.175 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| National Government Debt (USD mn) | 101,710.7 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| Government Debt: % of GDP (%) | 39.8 Dec 2023 | quarterly | Dec 2010 - Dec 2023 |
| Forecast: Government Expenditure (NGN bn) | 99,387.936 2029 | yearly | 1990 - 2029 |
| Forecast: Government Net Debt (NGN bn) | 205,772.040 2028 | yearly | 1990 - 2028 |
| Forecast: Government Revenue (NGN bn) | 74,924.965 2029 | yearly | 1990 - 2029 |
| Federal Govt Expenditure: Capital (NGN bn) | 1,043.310 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Federal Govt Balance (NGN bn) | -2,347.160 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 2,791.110 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Gross Federation Account Revenue (NGN bn) | 4,791.390 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Gross Federation Account Revenue: Oil (NGN bn) | 814.230 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Federal Govt Revenue (NGN bn) | 1,693.020 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Federal Govt Expenditure (NGN bn) | 4,040.180 Sep 2023 | quarterly | Mar 2005 - Sep 2023 |
| Government Debt: Domestic (NGN bn) | 53,258.012 Dec 2023 | quarterly | Dec 2005 - Dec 2023 |
| Foreign Trade | Last | Frequency | Range |
|---|---|---|---|
| Forecast: Exports of Goods Growth (%) | -1.879 2028 | yearly | 1991 - 2028 |
| Trade Balance (USD mn) | 1,889.4 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Total Exports (USD mn) | 4,751.7 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Total Exports Growth (%) | 82.1 Dec 2023 | monthly | Jan 2004 - Dec 2023 |
| Aluminum: Exports (USD th) | 165,856.846 2022 | yearly | 1995 - 2022 |
| Exports: Medicament (USD th) | 2,876.353 2022 | yearly | 1995 - 2022 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 480.530 2022 | yearly | 1995 - 2022 |
| Total Imports (USD mn) | 2,989.3 Mar 2023 | monthly | Jan 2003 - Mar 2023 |
| Total Imports Growth (%) | 34.5 Sep 2023 | monthly | Jan 2004 - Sep 2023 |
| Imports: Medicament (USD th) | 755,360.705 2022 | yearly | 1995 - 2022 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 508,406.689 2022 | yearly | 1995 - 2022 |
| Total Exports to USA (USD mn) | 332.105 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Total Imports from USA (USD mn) | 176.789 Dec 2023 | monthly | Dec 2009 - Dec 2023 |
| Total Exports to China (USD mn) | 24.772 Sep 2023 | monthly | Jan 2007 - Sep 2023 |
| Total Imports from China (USD mn) | 715.679 Sep 2023 | monthly | Jan 2007 - Sep 2023 |
| Imports (NGN mn) | 2,429,185.197 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Exports: Crude Oil (NGN mn) | 3,404,818.113 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Total Trade (NGN mn) | 6,865,948.584 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Exports: Europe: ow Netherlands (NGN mn) | 523,568.988 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Exports: America: ow USA (NGN mn) | 299,453.208 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Exports (NGN mn) | 4,284,566.609 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Exports: Europe: ow UK (NGN mn) | 93,037.938 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Exports: Mineral Products (NGN mn) | 24,389,951.388 2022 | yearly | 2003 - 2022 |
| Exports: Vegetable Products (NGN mn) | 316,546.604 2022 | yearly | 2003 - 2022 |
| Imports: Europe: ow Netherlands (NGN mn) | 158,090.619 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Imports: Europe: ow Germany (NGN mn) | 68,742.651 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Imports: Asia: ow China (NGN mn) | 631,502.155 Dec 2023 | monthly | Jan 2007 - Dec 2023 |
| Imports: America: ow USA (NGN mn) | 159,407.643 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Imports: Europe: ow UK (NGN mn) | 71,966.938 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Imports: Chemicals and Chemical Products (NGN mn) | 385,751.608 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) | 810,486.908 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Imports: Manufactured Goods (NGN mn) | 184,959.341 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Imports: Food and Live Animals (NGN mn) | 364,417.505 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Imports: Machinery and Transport Equipment (NGN mn) | 639,703.694 Sep 2023 | monthly | Jan 2003 - Sep 2023 |
| Balance of Payments | Last | Frequency | Range |
|---|---|---|---|
| Direct Investment Abroad (USD mn) | 44.0 Sep 2023 | quarterly | Mar 2008 - Sep 2023 |
| Current Account Balance (USD mn) | 1,545.4 Sep 2023 | quarterly | Mar 2014 - Sep 2023 |
| Current Account Balance: % of GDP (%) | 1.9 Sep 2023 | quarterly | Mar 2014 - Sep 2023 |
| Foreign Direct Investment (USD mn) | 1,197.6 Mar 2023 | quarterly | Mar 2014 - Mar 2023 |
| Foreign Direct Investment: % of GDP (%) | 1.1 Sep 2023 | quarterly | Mar 2010 - Sep 2023 |
| Foreign Portfolio Investment (USD mn) | 2,876.923 Sep 2023 | quarterly | Mar 2008 - Sep 2023 |
| Foreign Portfolio Investment: % of GDP (%) | 3.6 Sep 2023 | quarterly | Mar 2010 - Sep 2023 |
| Foreign Portfolio Investment: Equity Securities (USD mn) | 270.9 Sep 2023 | quarterly | Mar 2008 - Sep 2023 |
| Foreign Portfolio Investment: Debt Securities (USD mn) | 2,606.059 Sep 2023 | quarterly | Mar 2008 - Sep 2023 |
| External Debt (USD mn) | 42,495.2 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| External Debt: % of GDP (%) | 11.9 2023 | yearly | 1985 - 2023 |
| External Debt: Short Term (USD mn) | 1,005.6 2020 | yearly | 2008 - 2020 |
| External Debt: Short Term: % of GDP (%) | 0.2 2020 | yearly | 2008 - 2020 |
| Forecast: Current Account Balance (USD bn) | 0.890 2028 | yearly | 1980 - 2028 |
| Net International Investment Position (USD mn) | -80,930.532 2022 | yearly | 2005 - 2022 |
| External Debt: Service Payments (USD mn) | 194.440 Dec 2018 | quarterly | Mar 2008 - Dec 2018 |
| External Debt: Government (USD mn) | 42,495.160 Dec 2023 | quarterly | Dec 2006 - Dec 2023 |
| External Debt: Government: International Capital Market (USD mn) | 15,118.350 Dec 2023 | quarterly | Mar 2011 - Dec 2023 |
| Capital Inflow: Foreign Direct Investment (USD) | 20,080,525.860 Nov 2022 | monthly | Jan 2007 - Nov 2022 |
| Monetary | Last | Frequency | Range |
|---|---|---|---|
| Non Performing Loans Ratio (%) | 6.1 2019 | yearly | 2003 - 2019 |
| Non-Performing Loans (USD mn) | 3,315.011 Mar 2021 | quarterly | Mar 2007 - Mar 2021 |
| Money Supply M1 (USD mn) | 19,608.589 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| Money Supply M2 (USD mn) | 60,857.230 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| M2 Growth (%) | 77.6 Feb 2024 | monthly | Nov 1993 - Feb 2024 |
| Reserve Requirement Ratio (%) | 45.0 Mar 2024 | monthly | Nov 2005 - Mar 2024 |
| Foreign Exchange Reserves (USD mn) | 33,217.6 Dec 2023 | monthly | Jan 1960 - Dec 2023 |
| Foreign Exchange Reserves: % of GDP (%) | 8.942 Dec 2023 | quarterly | Dec 2010 - Dec 2023 |
| Foreign Exchange Reserves: Months of Import (NA) | 11.6 Dec 2023 | monthly | Jan 2003 - Dec 2023 |
| Gold Reserves (USD mn) | 1,273.284 Sep 2023 | monthly | Dec 1950 - Sep 2023 |
| Total Deposits (USD mn) | 84,213.801 Dec 2019 | monthly | Nov 1992 - Dec 2019 |
| Total Deposits Growth (%) | 2.6 Dec 2019 | monthly | Nov 1993 - Dec 2019 |
| Domestic Credit (USD mn) | 74,341.2 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| Domestic Credit Growth (%) | 63.6 Feb 2024 | monthly | Nov 1993 - Feb 2024 |
| Private Debt: % of Nominal GDP (%) | 16.22 Sep 2023 | quarterly | Dec 2010 - Sep 2023 |
| Monetary Survey: Liabilities: Base Money (NGN mn) | 21,230,656.700 Feb 2024 | monthly | Jan 1993 - Feb 2024 |
| Monetary Survey: Liabilities: M2: M1 (NGN mn) | 30,277,249.260 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| Monetary Survey: Liabilities: M2 (NGN mn) | 93,968,491.960 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) | 63,691,242.700 Feb 2024 | monthly | Nov 1992 - Feb 2024 |
| Monetary Survey: Liabilities: M3 (NGN mn) | 35,345,802.020 Jun 2020 | monthly | Nov 1992 - Jun 2020 |
| Non Performing Loans to Gross Loans (%) | 4.210 Dec 2022 | semiannually | Dec 2003 - Dec 2022 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | -0.6 Nov 2023 | monthly | Jul 2015 - Nov 2023 |
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