Nigeria inflation rate for 2023 was 24.66%, a 5.81% increase from 2022.
Nigeria inflation rate for 2022 was 18.85%, a 1.89% increase from 2021.
Nigeria inflation rate for 2021 was 16.95%, a 3.71% increase from 2020.
Nigeria inflation rate for 2020 was 13.25%, a 1.85% increase from 2019.
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.
