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 34.8 % YoY in Dec 2024, compared with a rate of 34.6 % in the previous month.
  • Nigeria Consumer Price Index growth data is updated monthly, available from Jan 1961 to Dec 2024, with an averaged number of 12.6 % 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 Dec 2024 in the chart:

Nigeria Consumer Price Index CPI Growth

What was Nigeria's Consumer Price Index CPI Growth in Dec 2024?

Nigeria Consumer Price Index (CPI) growth was measured at 34.8 % YoY in Dec 2024, compared with a rate of 34.6 % in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
34.8 Dec 2024 34.6 Nov 2024 -7.8 Oct 1967 89.6 Jun 1995 % monthly Jan 1961 - Dec 2024

Consumer Price Index CPI Growth by Country Comparison

country/region Last Frequency Range
Albania (%) 4.2 Jul 2023 monthly Jan 1992 - Jul 2023
Algeria (%) 3.1 Nov 2024 monthly Jan 1975 - Nov 2024
Argentina (%) 117.8 Dec 2024 monthly Dec 2017 - Dec 2024
Armenia (%) 1.4 Nov 2024 monthly Dec 1993 - Nov 2024
Australia (%) 2.9 Sep 2024 quarterly Dec 1987 - Sep 2024
Austria (%) 2.0 Dec 2024 monthly Jan 1949 - Dec 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 (%) 10.0 Dec 2024 monthly Jan 1938 - Dec 2024
Bosnia and Herzegovina (%) 10.3 Mar 2023 monthly Jan 2006 - Mar 2023
Botswana (%) 1.7 Dec 2024 monthly Jun 1975 - Dec 2024
Brazil (%) 4.8 Dec 2024 monthly Dec 1980 - Dec 2024
Brunei (%) 0.8 May 2023 monthly Jan 2001 - May 2023
Bulgaria (%) 2.2 Dec 2024 monthly May 1991 - Dec 2024
Cambodia (%) 2.0 Nov 2024 monthly Oct 1995 - Nov 2024
Canada (%) 1.9 Nov 2024 monthly Jan 1993 - Nov 2024
Chile (%) 6.5 Jul 2023 monthly Jan 1971 - Jul 2023
China (%) 0.1 Dec 2024 monthly Jan 1985 - Dec 2024
Colombia (%) 5.2 Dec 2024 monthly Jul 1955 - Dec 2024
Croatia (%) 3.5 Dec 2024 monthly Jan 1987 - Dec 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 (%) 24.1 Dec 2024 monthly Jan 1958 - Dec 2024
Estonia (%) 3.9 Dec 2024 monthly Jan 1993 - Dec 2024
European Union (%) 2.7 Dec 2024 monthly Jan 1997 - Dec 2024
Finland (%) 6.5 Jul 2023 monthly Jan 1980 - Jul 2023
France (%) 1.3 Dec 2024 monthly Jan 1991 - Dec 2024
Georgia (%) 0.3 Jul 2023 monthly Jan 1995 - Jul 2023
Germany (%) 2.7 Dec 2024 monthly Jun 1949 - Dec 2024
Ghana (%) 23.8 Dec 2024 monthly Mar 1964 - Dec 2024
Greece (%) 2.6 Dec 2024 monthly Jan 1956 - Dec 2024
Hong Kong SAR, China (%) 1.3 Nov 2024 monthly Oct 2000 - Nov 2024
Hungary (%) 4.6 Dec 2024 monthly Jan 1977 - Dec 2024
Iceland (%) 4.7 Dec 2024 monthly Jan 1977 - Dec 2024
India (%) 5.2 Dec 2024 monthly Jan 1958 - Dec 2024
Indonesia (%) 3.1 Jul 2023 monthly Jan 1969 - Jul 2023
Iran (%) 31.2 Sep 2024 monthly Jan 1958 - Sep 2024
Ireland (%) 1.4 Dec 2024 monthly Nov 1976 - Dec 2024
Israel (%) 3.3 Dec 2024 monthly Jan 1993 - Dec 2024
Italy (%) 1.3 Dec 2024 monthly Jan 1956 - Dec 2024
Ivory Coast (%) 2.6 Oct 2024 monthly Jan 1961 - Oct 2024
Japan (%) 2.9 Nov 2024 monthly Jan 1996 - Nov 2024
Jordan (%) 0.9 Jul 2023 monthly Jan 1999 - Jul 2023
Kazakhstan (%) 14.0 Jul 2023 monthly Jan 1994 - Jul 2023
Kenya (%) 2.8 Nov 2024 monthly Mar 1963 - Nov 2024
South Korea (%) 2.3 Jul 2023 monthly Aug 1952 - Jul 2023
Kosovo (%) 1.1 Dec 2024 monthly May 2003 - Dec 2024
Kuwait (%) 2.4 Nov 2024 monthly Jul 1992 - Nov 2024
Kyrgyzstan (%) 6.3 Dec 2024 monthly Jan 1996 - Dec 2024
Laos (%) 16.9 Dec 2024 monthly May 1994 - Dec 2024
Latvia (%) 3.3 Dec 2024 monthly Jan 1992 - Dec 2024
Lebanon (%) 268.8 Apr 2023 monthly Dec 2008 - Apr 2023
Lithuania (%) 7.4 Jul 2023 monthly Dec 1991 - Jul 2023
Luxembourg (%) 1.0 Dec 2024 monthly Jan 1956 - Dec 2024
Macau SAR, China (%) 0.3 Nov 2024 monthly Jan 1989 - Nov 2024
North Macedonia (%) 4.4 Dec 2024 monthly Jan 1994 - Dec 2024
Malawi (%) 27.0 Nov 2024 monthly Jan 1981 - Nov 2024
Malaysia (%) 1.8 Nov 2024 monthly Jan 1958 - Nov 2024
Malta (%) 2.1 Nov 2024 monthly Jan 1997 - Nov 2024
Mauritius (%) 2.9 Dec 2024 monthly Jul 1963 - Dec 2024
Mexico (%) 4.2 Dec 2024 monthly Jan 1958 - Dec 2024
Moldova (%) 10.8 Jul 2023 monthly Jan 1992 - Jul 2023
Mongolia (%) 9.0 Dec 2024 monthly Oct 1992 - Dec 2024
Montenegro (%) 6.9 Jul 2023 monthly Jan 2008 - Jul 2023
Morocco (%) 0.8 Nov 2024 monthly Jan 1958 - Nov 2024
Mozambique (%) 9.6 Apr 2023 monthly Dec 1996 - Apr 2023
Myanmar (%) 25.3 Mar 2024 monthly Oct 2008 - Mar 2024
Nepal (%) 6.1 Dec 2024 monthly Jul 1964 - Dec 2024
Netherlands (%) 4.1 Dec 2024 monthly Jan 1958 - Dec 2024
New Zealand (%) 6.7 Mar 2023 quarterly Jun 1915 - Mar 2023
Nigeria (%) 34.8 Dec 2024 monthly Jan 1961 - Dec 2024
Norway (%) 2.3 Dec 2024 monthly Jan 1986 - Dec 2024
Oman (%) 1.6 Mar 2023 monthly Jan 2002 - Mar 2023
Pakistan (%) 4.9 Nov 2024 monthly Jan 1958 - Nov 2024
Palestinian Territory (%) 3.9 May 2023 monthly Jan 1997 - May 2023
Panama (%) -0.2 Dec 2024 monthly Jul 1975 - Dec 2024
Paraguay (%) 3.8 Dec 2024 monthly Jan 1958 - Dec 2024
Peru (%) 1.9 Dec 2024 monthly Jan 1958 - Dec 2024
Philippines (%) 2.9 Dec 2024 monthly Jan 1958 - Dec 2024
Poland (%) 4.7 Dec 2024 monthly Jan 1989 - Dec 2024
Portugal (%) 3.0 Dec 2024 monthly Jan 1949 - Dec 2024
Qatar (%) 0.8 Sep 2024 monthly Mar 2015 - Sep 2024
Romania (%) 9.4 Jul 2023 monthly Oct 1991 - Jul 2023
Russia (%) 4.3 Jul 2023 monthly Jan 1993 - Jul 2023
Saudi Arabia (%) 1.9 Dec 2024 monthly Feb 1981 - Dec 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 (%) 1.9 Dec 2024 monthly Jan 1981 - Dec 2024
South Africa (%) 6.8 Apr 2023 monthly Jan 1958 - Apr 2023
Spain (%) 2.8 Dec 2024 monthly Mar 1955 - Dec 2024
Sri Lanka (%) -1.7 Nov 2024 monthly Jan 1960 - Nov 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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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2024 quarterly Dec 2010 - Jun 2024
Consolidated Fiscal Balance (USD mn) -3,274.101 Jun 2024 quarterly Mar 2005 - Jun 2024
National Government Debt (USD mn) 88,444.7 Jun 2024 quarterly Dec 2006 - Jun 2024
Government Debt: % of GDP (%) 52.8 Jun 2024 quarterly Dec 2010 - Jun 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Balance (NGN bn) -4,533.420 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue (NGN bn) 6,285.040 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Government Debt: Domestic (NGN bn) 66,957.878 Jun 2024 quarterly Dec 2005 - Jun 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,027.6 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports (USD mn) 3,738.1 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports Growth (%) 56.4 Sep 2024 monthly Jan 2004 - Sep 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 62.9 Sep 2024 monthly Jan 2004 - Sep 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 124.857 Sep 2024 monthly Jan 2003 - Sep 2024
Total Imports from USA (USD mn) 275.937 Sep 2024 monthly Dec 2009 - Sep 2024
Total Exports to China (USD mn) 105.763 Sep 2024 monthly Jan 2007 - Sep 2024
Total Imports from China (USD mn) 802.488 Sep 2024 monthly Jan 2007 - Sep 2024
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -35.341 Jun 2024 monthly Jan 2019 - Jun 2024
Exports: Growth Rate: MoM (%) 10.446 Jun 2024 monthly Jan 2019 - Jun 2024
Imports (NGN mn) 4,384,900.258 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports (NGN mn) 6,047,190.706 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Imports: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow UK (NGN mn) 134,085.602 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Food and Live Animals (NGN mn) 455,343.676 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Manufactured Goods (NGN mn) 488,494.173 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Machinery and Transport Equipment (NGN mn) 1,432,150.870 Sep 2024 monthly Jan 2003 - Sep 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 10.0 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 42,901.0 Jun 2024 quarterly Dec 2006 - Jun 2024
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) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,901.010 Jun 2024 quarterly Dec 2006 - Jun 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Jun 2024 quarterly Mar 2011 - Jun 2024
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) 21,807.151 Nov 2024 monthly Nov 1992 - Nov 2024
Money Supply M2 (USD mn) 65,496.541 Nov 2024 monthly Nov 1992 - Nov 2024
M2 Growth (%) 52.7 Nov 2024 monthly Nov 1993 - Nov 2024
Reserve Requirement Ratio (%) 50.0 Dec 2024 monthly Nov 2005 - Dec 2024
Foreign Exchange Reserves (USD mn) 35,920.0 Aug 2024 monthly Jan 1960 - Aug 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 10.7 Aug 2024 monthly Jan 2003 - Aug 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
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) 69,482.4 Nov 2024 monthly Nov 1992 - Nov 2024
Domestic Credit Growth (%) 35.4 Nov 2024 monthly Nov 1993 - Nov 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2 (NGN mn) 108,946,684.260 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: Base Money (NGN mn) 30,871,571.250 Nov 2024 monthly Jan 1993 - Nov 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,273,927.360 Nov 2024 monthly Nov 1992 - Nov 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,672,756.900 Nov 2024 monthly Nov 1992 - Nov 2024
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024

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