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Consumer Price Index and Inflation
CPI

Nigeria
Reference ID
NGA-NBS-CPI
Abstract
In Nigeria, the National Bureau of Statistics (NBS) recently rebased the CPI to replace outgoing reference periods (2009). Rebasing aligns the price and weight reference periods with the current economic environment, ensuring methodological accuracy, updating the composition of the goods and services basket, revising item weights, and incorporating necessary improvements. Since consumption patterns evolve, the CPI basket is updated regularly, including the addition of new items. The weight reference period is now 2023, and the price reference period (Base year) is 2024. The updated CPI covers 934 product varieties classified into 13 divisions under the COICOP 2018 framework. The CPI framework includes indices such as the Urban National Index, Rural National Index, Headline Index, Food Index, Core Index, Imported Food Index, Goods Index, Services Index, Energy Index, All Items Less Farm Produce Index, and Farm Produce Index. This system ensures accurate price tracking across different sectors and regions, supporting economic analysis and policy formulation.
Collections
NATIONAL ECONOMY
Metadata
JSON
Created on
Dec 16, 2024
Last modified
Apr 15, 2025
Page views
882098
Downloads
64200
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Reports
November 2024 CPI Report
Download [PDF, 2.06 MB]
Author(s) National Bureau of Statistics, Nigeria
Date 16/12/2024
Country Nigeria
Language English
Contributor(s) NBS
Publisher(s) NBS, Nigeria
Table of contents Brief Methodology ——————————————————————————————3
All Item Index ————————————————————————————————7
Food Index ———————————————————————————————— 11
All Items Less Farm Produce (with Energy ——————————————————— 13
State Profile ————————————————————————————————–14
Appendix ————————————————————————————————— 17
Contact —————————————————————————————————— 18
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1116
December 2024 CPI Report
Download [PDF, 2.09 MB]
Author(s) National Bureau of Statistics, Nigeria
Date 15/01/2025
Country Nigeria
Language English
Contributor(s) NBS
Publisher(s) NBS, Nigeria
Table of contents Brief Methodology ——————————————————————————————3

All Item Index ————————————————————————————————7

Food Index ———————————————————————————————— 11

All Items Less Farm Produce (with Energy ——————————————————— 13

State Profile ————————————————————————————————–14

Appendix ————————————————————————————————— 17

Contact —————————————————————————————————— 18
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1126
Highlights of 2024 CPI Rebasing Results
Download [PDF, 290.18 KB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1156
February 2025 CPI Report
Download [PDF, 1.08 MB]
Author(s) National Bureau of Statistics, Nigeria
Date 2025-03-17
Country Nigeria
Language English
Contributor(s) NBS
Publisher(s) NBS, Nigeria
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1161
March 2025 CPI Report
Download [PDF, 1.06 MB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1198
April 2025 CPI Report
Download [PDF, 1.06 MB]
Description The Consumer Price Index (CPI) rose to 119.52 in April 2025, reflecting a 2.18-point increase from the preceding month. In April 2025, the Headline inflation rate eased to 23.71% relative to the March 2025 headline inflation rate of 24.23%. Looking at the movement, the April 2025 Headline inflation rate showed a decrease of 0.52% compared to the March 2025 Headline inflation rate.
On a year-on-year basis, the Headline inflation rate was 9.99% lower than the rate recorded in April 2024 (33.69%). This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the preceding year (i.e., April 2024), though with a different base year, November 2009 = 100.
Furthermore, on a month-on-month basis, the Headline inflation rate in April 2025 was 1.86%, which was 2.04% lower than the rate recorded in March 2025 (3.90%). This means that in April 2025, the rate of increase in the average price level is lower than the rate of increase in the average price level in March 2025.
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1212
Other Materials
November 2024 CPI Tables
Download [XLSX, 617.41 KB]
Author(s) National Bureau of Statistics, Nigeria
Date 16/12/2024
Country Nigeria
Language English
Contributor(s) NBS
Publisher(s) NBS, Nigeria
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1117
December 2024 CPI Tables
Download [XLSX, 618.76 KB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1127
February 2025 CPI Tables
Download [XLSX, 177.48 KB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1162
March 2025 CPI Tables
Download [XLSX, 158.59 KB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1199
April 2025 CPI Tables
Download [XLSX, 221.49 KB]
Download https://microdata.nigerianstat.gov.ng/index.php/catalog/154/download/1213
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