Inflation rates by country and year

-3.7%15.4%34.6%53.7%72.8%
-3.7%15.4%34.6%53.7%72.8%
19605.4%
199244.6%
202523.0%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate23.0%

Behind the curve

Turning points in Nigeria

  1. 1992↑ Upward pressure

    The naira's devaluations — Wikipedia (opens in a new tab)

    Fiscal deficits, currency devaluation and structural adjustment pushed Nigerian inflation to very high levels in the early 1990s.

    Central Bank of Nigeria
  2. 2008↑ Upward pressure

    The world food price crisis — Wikipedia (opens in a new tab)

    The 2007–08 global food and fuel surge pushed Nigerian inflation to a peak in 2008.

    Central Bank of Nigeria
  3. 2016↑ Upward pressure

    The naira's devaluation — Wikipedia (opens in a new tab)

    The oil-price crash and a recession, with a sharp naira devaluation, lifted inflation from 2016.

    Central Bank of Nigeria
  4. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher global food and fuel prices and a weaker naira pushed Nigerian inflation to multi-year highs in 2022.

    Central Bank of Nigeria

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Nigeria?

The annual inflation rate in Nigeria was 23.0% in 2025, the most recent year in the World Bank dataset. That means prices rose 23.0% on average compared with the year before. Use the chart above to explore Nigeria's full inflation history from 1960 to 2025, and to compare it with any other country.

How inflation in Nigeria has changed

Inflation in Nigeria peaked at 72.8% in 1995 and reached its lowest point at -3.7% in 1967. Averaged across the 66 years of available data (1960–2025), the rate has been 16.4% per year.

Frequently asked questions about inflation in Nigeria

What is the current inflation rate in Nigeria?

The latest available annual figure is 23.0% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Nigeria's statistical office.

What was the highest inflation rate in Nigeria?

The highest annual inflation rate on record is 72.8%, reached in 1995.

What was the lowest inflation rate in Nigeria?

The lowest annual inflation rate on record is -3.7%, recorded in 1967.

Where does the inflation data for Nigeria come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.