Inflation, CPI (Average) rose 11.0% to 13.0% in Nigeria in 2020

Inflation, CPI (Average) (%), 2020
Economy | Nigeria | January 1, 2021
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Average inflation measured by CPI rose 11.0% to 13.0% in Nigeria in 2020, according to the National Statistical Office.

Historically, average inflation measured by CPI in Nigeria reached an all time high of 13.0% in 2020 and an all time low of -0.037% in 1967. When compared to Nigeria's main peers, average inflation measured by CPI in Benin amounted to 2.20%, 2.00% in Cameroon, 2.96% in Chad and 2.00% in Niger in 2020.

Nigeria has been ranked 8th within the group of 171 countries we follow in terms of average inflation measured by CPI, 4 places above the position seen 10 years ago.

Inflation, CPI (Average) Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Algeria % 0.056% 0.043% 0.020% 6.00% 7.90%
Benin % 0.018% 0.008% -0.009% 2.20% 2.20%
Burkina Faso % 0.015% 0.020% -0.032% 2.00% 2.00%
Cameroon % 0.006% 0.011% 0.025% 2.00% 2.00%
Central African Republic % 4.10% 4.02% 3.40% 3.16% 3.02%
Chad % -0.015% 0.043% -0.010% 2.96% 3.00%
Gabon % 0.027% 0.047% 0.025% 2.50% 2.54%
Libya % 28.5% 28.1% 17.9% 13.4% 13.4%
Mali % 0.018% 0.003% -0.017% 2.14% 2.19%
Niger % 0.028% 0.030% -0.025% 2.00% 2.00%
Nigeria % 0.165% 0.121% 0.114% 13.0% 14.3%
Sudan % 0.324% 0.633% 0.510% 57.9% 58.9%
Togo % -0.010% 0.009% 0.007% 2.00% 2.00%