Nigeria: Inflation, consumer prices (annual % growth)

Key figures

What the numbers say

In 2025, Nigeria's inflation, consumer prices (annual % growth) fell 10.23 percentage points on 2024 (from 33.24% to 23.01%).

Across the 30 yearly changes before that (1995 to 2024), the average change was −0.79 percentage points and a typical year strayed about 10.38 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 43.22 percentage points in 1988 and the biggest yearly fall was 43.57 percentage points in 1996. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about 1.65 percentage points a year. A straight line explains 55% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Nigeria had the 6th highest value of the 169 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Nigeria in the 2025 ranking

• Burundi — 3rd of 169: 34.13%
• Haiti — 4th of 169: 28.64%
• Malawi — 5th of 169: 28.37%
• Angola — 7th of 169: 20.16%
• Bolivia — 8th of 169: 19.52%
• Lebanon — 9th of 169: 14.6%

What this measures

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.

Regional and income-group figures are computed by the World Bank as a median.

All 66 values

Inflation, consumer prices (annual % growth) in nearby economies

• Angola — 20.16% (2025)
• Benin — 1.1% (2025)
• Botswana — 2.66% (2025)
• Burkina Faso — -0.59% (2025)
• Burundi — 34.13% (2025)
• Cabo Verde — 2.34% (2025)
• Cameroon — 3.4% (2025)
• Central African Republic — 1% (2025)
• Chad — -3.91% (2025)
• Comoros — 3.25% (2025)

More financial sector data for Nigeria

• Broad money (current LCU) — 126.82 trillion (2025)
• Broad money (% of GDP) — 28.72% (2025)
• Broad money to total reserves ratio — 1.81 (2025)
• Consumer price index (2010 = 100) — 860.32 (2025)
• GDP deflator (base year varies by country) — 194.92 (2025)
• DEC alternative conversion factor (LCU per US$) — US$1,518 (2025)
• Official exchange rate (LCU per US$, period average) — US$1,518 (2025)
• Broad money (annual % growth) — 11.87% (2025)
• Inflation, GDP deflator (annual % growth) — 13.86% (2025)
• Domestic credit to private sector by banks (% of GDP)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Nigeria's inflation, consumer prices (annual % growth)?

23.01% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 17.57 percentage points from 5.44% in 1960. The highest value was 72.84% in 1995 and the lowest -3.73% in 1967.

How does Nigeria rank?

6th highest of 169 economies with data for 2025.

Is the latest change in inflation, consumer prices (annual % growth) unusual for Nigeria?

In 2025, Nigeria's inflation, consumer prices (annual % growth) fell 10.23 percentage points on 2024 (from 33.24% to 23.01%). Across the 30 yearly changes before that (1995 to 2024), the average change was −0.79 percentage points and a typical year strayed about 10.38 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FP.CPI.TOTL.ZG, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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