Key Insight
Latest headline inflation: —. Inflation peaked at 34.80% in December 2024 driven by post-FX reform currency depreciation and rising food prices — the highest since the 1990s.
Headline Inflation Rate (%) — Monthly
Nigeria's headline inflation peaked at 34.80% in December 2024 following the June 2023 CBN FX reform — the highest level since the 1990s.
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Source: NBS Consumer Price Index Report · Year-on-year headline inflation
Food Inflation (%)
Food prices have consistently run hotter than headline inflation, reflecting Nigeria's exposure to local supply shocks and currency-driven import costs.
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Source: NBS CPI Report · Year-on-year food inflation
Core Inflation (%)
Core inflation strips out volatile food and energy prices — typically lower than headline, but following the same FX-reform-driven upward trend.
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Source: NBS CPI Report · Core inflation excludes volatile food and energy
Headline vs Food vs Core Inflation 2003–2026
Comparing all three measures together shows food has driven most of the divergence from core inflation since the 2023 FX reform.
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HeadlineFoodCore
Inflation Data Table
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