Nigeria Inflation: Historical Data
Check Nigeria's historical inflation and calculate how the value of money has changed over time. Data from 1961 to 2023.
Annual Inflation Visualization (Nigeria)
Source: World Bank (1961-2023)
Historical Inflation Calculator for Nigeria
Calculate how the value of money has changed between two specific years in Nigeria.
Future Value Estimation
Estimate how the value of an amount of money will change in the future, given an average inflation rate.
Past Value Estimation
Estimate what the equivalent value of an amount of money would have been in the past, given an average inflation rate.
Historical inflation data for Nigeria
| Year | Inflation (%) | Change |
|---|---|---|
| 2023 | 12.62% | +1.31pp |
| 2022 | 11.31% | +1.18pp |
| 2021 | 10.13% | +2.28pp |
| 2020 | 7.85% | -2.54pp |
| 2019 | 10.38% | +0.16pp |
| 2018 | 10.23% | -0.89pp |
| 2017 | 11.12% | +1.58pp |
| 2016 | 9.54% | +6.68pp |
| 2015 | 2.86% | -1.80pp |
| 2014 | 4.66% | -0.30pp |
| 2013 | 4.96% | -4.98pp |
| 2012 | 9.95% | +0.17pp |
| 2011 | 9.78% | -6.56pp |
| 2010 | 16.34% | +15.66pp |
| 2009 | 0.69% | -7.24pp |
| 2008 | 7.92% | +0.82pp |
| 2007 | 7.10% | -16.76pp |
| 2006 | 23.86% | +4.01pp |
| 2005 | 19.86% | -2.51pp |
| 2004 | 22.37% | +12.56pp |
| 2003 | 9.80% | -11.30pp |
| 2002 | 21.11% | +11.03pp |
| 2001 | 10.08% | -12.60pp |
| 2000 | 22.67% | +9.24pp |
| 1999 | 13.43% | +7.42pp |
| 1998 | 6.01% | +0.95pp |
| 1997 | 5.06% | -21.44pp |
| 1996 | 26.49% | -48.91pp |
| 1995 | 75.40% | +32.11pp |
| 1994 | 43.30% | +1.66pp |
| 1993 | 41.64% | -5.11pp |
| 1992 | 46.75% | +27.89pp |
| 1991 | 18.86% | +12.20pp |
| 1990 | 6.67% | -22.30pp |
| 1989 | 28.97% | +8.79pp |
| 1988 | 20.18% | +0.51pp |
| 1987 | 19.67% | +14.25pp |
| 1986 | 5.42% | -1.51pp |
| 1985 | 6.93% | +1.27pp |
| 1984 | 5.65% | -13.92pp |
| 1983 | 19.57% | +4.77pp |
| 1982 | 14.80% | -204.20pp |
| 1981 | 219.00% | +206.58pp |
| 1980 | 12.42% | +0.93pp |
| 1979 | 11.49% | -2.43pp |
| 1978 | 13.91% | +3.20pp |
| 1977 | 10.71% | -3.64pp |
| 1976 | 14.35% | -9.15pp |
| 1975 | 23.50% | -20.45pp |
| 1974 | 43.95% | +38.60pp |
| 1973 | 5.35% | +2.45pp |
| 1972 | 2.89% | +1.54pp |
| 1971 | 1.35% | -49.93pp |
| 1970 | 51.28% | +48.57pp |
| 1969 | 2.71% | +1.49pp |
| 1968 | 1.22% | +4.23pp |
| 1967 | -3.01% | -16.20pp |
| 1966 | 13.19% | +12.33pp |
| 1965 | 0.86% | -1.56pp |
| 1964 | 2.43% | +5.52pp |
| 1963 | -3.09% | -8.66pp |
| 1962 | 5.57% | -0.69pp |
| 1961 | 6.26% | - |
About Nigeria inflation
Nigeria inflation measures the annual percentage change in the general level of consumer prices. This indicator is essential to understand how the purchasing power of money varies over time. Our Nigeria inflation calculator allows you to visualize these changes and calculate monetary equivalences between different years.
What is inflation?
Inflation is the sustained and generalized increase in the price level of goods and services in an economy over a period of time. When inflation rises, each monetary unit buys fewer products. The inflation rate is generally measured by the Consumer Price Index (CPI), which reflects changes in the cost of a representative basket of goods and services.
How to use this inflation calculator?
Our Nigeria inflation calculator offers three tools: 1) Historical calculator: enter a value and select two years to see how purchasing power has changed. 2) Future value: estimate what your money will be worth in the future with a projected inflation rate. 3) Past value: calculate the equivalent of a current amount in the past.
Data provided by the World Bank (World Bank Open Data). Data is updated annually.