Nigeria Inflation Rate — 2026 CPI Data, Trend & Outlook
Nigeria's inflation rate was 23.01% in December 2025, down from 33.24% the previous year. A year earlier it stood at 33.24%.
Nigeria's inflation rate stands at 23.01% as of December 2025. The inflation rate currently sits at 23.01% (down from 33.24% in the prior year). Across the tracked window it has ranged between -3.73% and 72.84%, and is 10.23% lower than a year ago.
The trend
Among the 193 economies tracked on this platform, Nigeria ranks #11 on inflation rate by latest value. It fell from 33.24% in the previous year, and compares with a year-earlier 33.24%.
What's driving it
Inflation is shaped by energy and food prices, the exchange rate, wage growth and the stance of monetary policy; central banks lift interest rates to cool it and ease when it falls back toward target.
Recent readings
| Period | Inflation rate |
|---|---|
| Dec 2025 | 23.01% |
| Dec 2024 | 33.24% |
| Dec 2023 | 24.66% |
| Dec 2022 | 18.85% |
| Dec 2021 | 16.95% |
| Dec 2020 | 13.25% |
| Dec 2019 | 11.40% |
| Dec 2018 | 12.10% |
Data: The World Bank — World Development Indicators (CC BY 4.0) Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
What Is the Inflation Rate in Nigeria Right Now (2026)?
Nigeria's inflation rate was 23.01% in December 2025, down from 33.24% the previous year. A year earlier it stood at 33.24%.
Is the inflation rate rising or falling in Nigeria?
It fell in the latest reading — 23.01% in December 2025 versus 33.24% a year earlier. Year on year it is lower.
What is inflation rate?
It measures how fast consumer prices are rising, measured by the consumer price index (CPI).