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 32.7 % YoY in Sep 2024, compared with a rate of 32.2 % in the previous month.
  • Nigeria Consumer Price Index growth data is updated monthly, available from Jan 1961 to Sep 2024, with an averaged number of 12.5 % 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 Sep 2024 in the chart:

Nigeria Consumer Price Index CPI Growth

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

Nigeria Consumer Price Index (CPI) growth was measured at 32.7 % YoY in Sep 2024, compared with a rate of 32.2 % in the previous month. See the table below for more data.

Last Previous Min Max Unit Frequency Range
32.7 Sep 2024 32.2 Aug 2024 -7.8 Oct 1967 89.6 Jun 1995 % monthly Jan 1961 - Sep 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 (%) 3.8 Sep 2024 monthly Jan 1975 - Sep 2024
Argentina (%) 209.0 Sep 2024 monthly Dec 2017 - Sep 2024
Armenia (%) 0.6 Oct 2024 monthly Dec 1993 - Oct 2024
Australia (%) 2.9 Sep 2024 quarterly Dec 1987 - Sep 2024
Austria (%) 2.3 Aug 2024 monthly Jan 1949 - Aug 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 (%) 6.2 Sep 2024 monthly Jan 1938 - Sep 2024
Bosnia and Herzegovina (%) 10.3 Mar 2023 monthly Jan 2006 - Mar 2023
Botswana (%) 1.5 Sep 2024 monthly Jun 1975 - Sep 2024
Brazil (%) 4.4 Sep 2024 monthly Dec 1980 - Sep 2024
Brunei (%) 0.8 May 2023 monthly Jan 2001 - May 2023
Bulgaria (%) 1.2 Sep 2024 monthly May 1991 - Sep 2024
Cambodia (%) 0.8 Sep 2024 monthly Oct 1995 - Sep 2024
Canada (%) 1.7 Sep 2024 monthly Jan 1993 - Sep 2024
Chile (%) 6.5 Jul 2023 monthly Jan 1971 - Jul 2023
China (%) 0.4 Sep 2024 monthly Jan 1985 - Sep 2024
Colombia (%) 5.8 Sep 2024 monthly Jul 1955 - Sep 2024
Croatia (%) 1.6 Sep 2024 monthly Jan 1987 - Sep 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 (%) 26.4 Sep 2024 monthly Jan 1958 - Sep 2024
Estonia (%) 4.1 Oct 2024 monthly Jan 1993 - Oct 2024
European Union (%) 2.1 Sep 2024 monthly Jan 1997 - Sep 2024
Finland (%) 6.5 Jul 2023 monthly Jan 1980 - Jul 2023
France (%) 1.1 Sep 2024 monthly Jan 1991 - Sep 2024
Georgia (%) 0.3 Jul 2023 monthly Jan 1995 - Jul 2023
Germany (%) 2.1 Oct 2024 monthly Jun 1949 - Oct 2024
Ghana (%) 21.5 Sep 2024 monthly Mar 1964 - Sep 2024
Greece (%) 2.9 Sep 2024 monthly Jan 1956 - Sep 2024
Hong Kong SAR, China (%) 2.5 Aug 2024 monthly Oct 2000 - Aug 2024
Hungary (%) 3.0 Sep 2024 monthly Jan 1977 - Sep 2024
Iceland (%) 5.1 Oct 2024 monthly Jan 1977 - Oct 2024
India (%) 5.5 Sep 2024 monthly Jan 1958 - Sep 2024
Indonesia (%) 3.1 Jul 2023 monthly Jan 1969 - Jul 2023
Iran (%) 31.2 Sep 2024 monthly Jan 1958 - Sep 2024
Ireland (%) 0.7 Sep 2024 monthly Nov 1976 - Sep 2024
Israel (%) 3.4 Sep 2024 monthly Jan 1993 - Sep 2024
Italy (%) 0.9 Oct 2024 monthly Jan 1956 - Oct 2024
Ivory Coast (%) 2.8 Sep 2024 monthly Jan 1961 - Sep 2024
Japan (%) 2.4 Sep 2024 monthly Jan 1996 - Sep 2024
Jordan (%) 0.9 Jul 2023 monthly Jan 1999 - Jul 2023
Kazakhstan (%) 14.0 Jul 2023 monthly Jan 1994 - Jul 2023
Kenya (%) 3.6 Sep 2024 monthly Mar 1963 - Sep 2024
South Korea (%) 2.3 Jul 2023 monthly Aug 1952 - Jul 2023
Kosovo (%) 0.2 Sep 2024 monthly May 2003 - Sep 2024
Kuwait (%) 2.8 Sep 2024 monthly Jul 1992 - Sep 2024
Kyrgyzstan (%) 4.9 Sep 2024 monthly Jan 1996 - Sep 2024
Laos (%) 20.7 Oct 2024 monthly May 1994 - Oct 2024
Latvia (%) 1.4 Sep 2024 monthly Jan 1992 - Sep 2024
Lebanon (%) 268.8 Apr 2023 monthly Dec 2008 - Apr 2023
Lithuania (%) 7.4 Jul 2023 monthly Dec 1991 - Jul 2023
Luxembourg (%) 1.0 Oct 2024 monthly Jan 1956 - Oct 2024
Macau SAR, China (%) 0.6 Sep 2024 monthly Jan 1989 - Sep 2024
North Macedonia (%) 2.6 Sep 2024 monthly Jan 1994 - Sep 2024
Malawi (%) 33.9 Aug 2024 monthly Jan 1981 - Aug 2024
Malaysia (%) 1.8 Sep 2024 monthly Jan 1958 - Sep 2024
Malta (%) 2.1 Sep 2024 monthly Jan 1997 - Sep 2024
Mauritius (%) 3.1 Sep 2024 monthly Jul 1963 - Sep 2024
Mexico (%) 5.0 Aug 2024 monthly Jan 1958 - Aug 2024
Moldova (%) 10.8 Jul 2023 monthly Jan 1992 - Jul 2023
Mongolia (%) 6.7 Sep 2024 monthly Oct 1992 - Sep 2024
Montenegro (%) 6.9 Jul 2023 monthly Jan 2008 - Jul 2023
Morocco (%) 0.8 Sep 2024 monthly Jan 1958 - Sep 2024
Mozambique (%) 9.6 Apr 2023 monthly Dec 1996 - Apr 2023
Myanmar (%) 25.3 Mar 2024 monthly Oct 2008 - Mar 2024
Nepal (%) 3.9 Sep 2024 monthly Jul 1964 - Sep 2024
Netherlands (%) 3.5 Sep 2024 monthly Jan 1958 - Sep 2024
New Zealand (%) 6.7 Mar 2023 quarterly Jun 1915 - Mar 2023
Nigeria (%) 32.7 Sep 2024 monthly Jan 1961 - Sep 2024
Norway (%) 3.0 Sep 2024 monthly Jan 1986 - Sep 2024
Oman (%) 1.6 Mar 2023 monthly Jan 2002 - Mar 2023
Pakistan (%) 7.2 Oct 2024 monthly Jan 1958 - Oct 2024
Palestinian Territory (%) 3.9 May 2023 monthly Jan 1997 - May 2023
Panama (%) -0.3 Sep 2024 monthly Jul 1975 - Sep 2024
Paraguay (%) 3.6 Oct 2024 monthly Jan 1958 - Oct 2024
Peru (%) 1.7 Oct 2024 monthly Jan 1958 - Oct 2024
Philippines (%) 2.3 Oct 2024 monthly Jan 1958 - Oct 2024
Poland (%) 5.0 Oct 2024 monthly Jan 1989 - Oct 2024
Portugal (%) 2.1 Sep 2024 monthly Jan 1949 - Sep 2024
Qatar (%) 0.2 Jul 2024 monthly Mar 2015 - Jul 2024
Romania (%) 9.4 Jul 2023 monthly Oct 1991 - Jul 2023
Russia (%) 4.3 Jul 2023 monthly Jan 1993 - Jul 2023
Saudi Arabia (%) 1.7 Sep 2024 monthly Feb 1981 - Sep 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 (%) 0.0 Oct 2024 monthly Jan 1981 - Oct 2024
South Africa (%) 6.8 Apr 2023 monthly Jan 1958 - Apr 2023
Spain (%) 1.5 Sep 2024 monthly Mar 1955 - Sep 2024
Sri Lanka (%) -0.2 Sep 2024 monthly Jan 1960 - Sep 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) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 49.5 Mar 2024 quarterly Dec 2010 - Mar 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
Federal Govt Balance (NGN bn) -4,533.420 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 Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
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) 2,786.0 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports (USD mn) 4,913.5 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports Growth (%) 163.7 Jun 2024 monthly Jan 2004 - Jun 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
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 (%) 83.0 Jun 2024 monthly Jan 2004 - Jun 2024
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) 658.371 Jun 2024 monthly Jan 2003 - Jun 2024
Total Imports from USA (USD mn) 177.707 Jun 2024 monthly Dec 2009 - Jun 2024
Total Exports to China (USD mn) 160.464 Jun 2024 monthly Jan 2007 - Jun 2024
Total Imports from China (USD mn) 737.510 Jun 2024 monthly Jan 2007 - Jun 2024
Exports: Crude Oil (NGN mn) 5,457,219.231 Jun 2024 monthly Jan 2003 - Jun 2024
Total Trade (NGN mn) 10,433,069.822 Jun 2024 monthly Jan 2003 - Jun 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
Exports: America: ow USA (NGN mn) 975,552.174 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Europe: ow Netherlands (NGN mn) 434,520.151 Jun 2024 monthly Jan 2003 - Jun 2024
Exports (NGN mn) 7,280,672.000 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Europe: ow UK (NGN mn) 4,761.874 Jun 2024 monthly Jan 2003 - Jun 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: Europe: ow Netherlands (NGN mn) 89,695.701 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Asia: ow China (NGN mn) 1,092,816.851 Jun 2024 monthly Jan 2007 - Jun 2024
Imports: Europe: ow Germany (NGN mn) 91,725.002 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Europe: ow UK (NGN mn) 39,682.510 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: America: ow USA (NGN mn) 263,320.371 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Chemicals and Chemical Products (NGN mn) 531,688.790 Jun 2024 monthly Jan 2003 - Jun 2024
Imports (NGN mn) 3,152,397.822 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 564,023.272 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Manufactured Goods (NGN mn) 415,104.163 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Food and Live Animals (NGN mn) 464,465.517 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Machinery and Transport Equipment (NGN mn) 939,658.575 Jun 2024 monthly Jan 2003 - Jun 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) 42,495.2 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) -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: International Capital Market (USD mn) 15,118.350 Mar 2024 quarterly Mar 2011 - Mar 2024
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
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) 21,896.535 Aug 2024 monthly Nov 1992 - Aug 2024
Money Supply M2 (USD mn) 67,150.889 Aug 2024 monthly Nov 1992 - Aug 2024
M2 Growth (%) 63.3 Aug 2024 monthly Nov 1993 - Aug 2024
Reserve Requirement Ratio (%) 50.0 Oct 2024 monthly Nov 2005 - Oct 2024
Foreign Exchange Reserves (USD mn) 34,762.2 Jun 2024 monthly Jan 1960 - Jun 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 16.3 Jun 2024 monthly Jan 2003 - Jun 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) 73,616.6 Sep 2024 monthly Nov 1992 - Sep 2024
Domestic Credit Growth (%) 33.3 Aug 2024 monthly Nov 1993 - Aug 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 34,949,935.480 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2 (NGN mn) 107,182,219.490 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,232,284.010 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: Base Money (NGN mn) 26,891,229.280 Aug 2024 monthly Jan 1993 - Aug 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 13.8 Sep 2024 monthly Jul 2015 - Sep 2024

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