Nigeria Inflation Rate 2024 Forecast. Inflation is expected to rise to 31.6% in 2024, driven by higher food prices and continued depreciation of the naira, before moderating to 20.7% in 2025 as inflationary pressures abate. In 2023, nigeria recorded one of the highest inflation rates in the world at around 25 percent.
Nigeria inflation rate for 2022 was 18.85%, a 1.89% increase from 2021. Consumer price index cpi in nigeria increased to 825.40 points in october from 804.10 points in september of 2024.