Inflation Rate 2024 In Nigeria. Inflation monitor describes, on a monthly basis, the composition of items in the food basket which the national bureau of statistics uses for the computation of inflation rate in nigeria. Nigeria's annual inflation rate eased for the first time in five months after a persistent rise.
Inflation rate of nigeria increased from 22.8 % in june 2023 to 33.9 % in may 2024 growing at an average annual rate of 3.72%. New base period for consumer price indices is november 2009.