Nigeria - Inflation

Inflation, consumer prices (annual %)

The value for Inflation, consumer prices (annual %) in Nigeria was 11.40 as of 2019. As the graph below shows, over the past 59 years this indicator reached a maximum value of 72.84 in 1995 and a minimum value of -3.73 in 1967.

Definition: 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. The Laspeyres formula is generally used.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1960 5.44
1961 6.28
1962 5.27
1963 -2.69
1964 0.86
1965 4.10
1966 9.69
1967 -3.73
1968 -0.48
1969 10.16
1970 13.76
1971 16.00
1972 3.46
1973 5.40
1974 12.67
1975 33.96
1976 24.30
1977 15.09
1978 21.71
1979 11.71
1980 9.97
1981 20.81
1982 7.70
1983 23.21
1984 17.82
1985 7.44
1986 5.72
1987 11.29
1988 54.51
1989 50.47
1990 7.36
1991 13.01
1992 44.59
1993 57.17
1994 57.03
1995 72.84
1996 29.27
1997 8.53
1998 10.00
1999 6.62
2000 6.93
2001 18.87
2002 12.88
2003 14.03
2004 15.00
2005 17.86
2006 8.23
2007 5.39
2008 11.58
2009 12.55
2010 13.72
2011 10.84
2012 12.22
2013 8.48
2014 8.06
2015 9.01
2016 15.68
2017 16.52
2018 12.09
2019 11.40

Inflation, GDP deflator (annual %)

The value for Inflation, GDP deflator (annual %) in Nigeria was 7.85 as of 2020. As the graph below shows, over the past 59 years this indicator reached a maximum value of 219.00 in 1981 and a minimum value of -3.09 in 1963.

Definition: Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1961 6.26
1962 5.57
1963 -3.09
1964 2.43
1965 0.86
1966 13.19
1967 -3.01
1968 1.22
1969 2.71
1970 51.28
1971 1.35
1972 2.89
1973 5.35
1974 43.95
1975 23.50
1976 14.35
1977 10.71
1978 13.91
1979 11.49
1980 12.42
1981 219.00
1982 14.80
1983 19.57
1984 5.65
1985 6.93
1986 5.42
1987 19.67
1988 20.18
1989 28.97
1990 6.67
1991 18.86
1992 46.75
1993 41.64
1994 43.30
1995 75.40
1996 26.49
1997 5.06
1998 6.01
1999 13.43
2000 22.67
2001 10.08
2002 21.11
2003 9.80
2004 22.37
2005 19.86
2006 23.86
2007 7.10
2008 7.92
2009 0.69
2010 16.34
2011 9.78
2012 9.95
2013 4.96
2014 4.66
2015 2.86
2016 9.54
2017 11.12
2018 10.23
2019 10.38
2020 7.85

Inflation, GDP deflator: linked series (annual %)

The latest value for Inflation, GDP deflator: linked series (annual %) in Nigeria was 7.85 as of 2020. Over the past 30 years, the value for this indicator has fluctuated between 75.40 in 1995 and 0.69 in 2009.

Definition: Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.

Source: World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.

See also:

Year Value
1990 6.67
1991 18.86
1992 46.75
1993 41.64
1994 43.30
1995 75.40
1996 26.49
1997 5.06
1998 6.01
1999 13.43
2000 22.67
2001 10.08
2002 21.11
2003 9.80
2004 20.73
2005 19.86
2006 23.86
2007 7.10
2008 7.92
2009 0.69
2010 26.75
2011 9.78
2012 9.95
2013 4.96
2014 4.66
2015 2.86
2016 9.54
2017 11.12
2018 10.23
2019 10.38
2020 7.85

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices