CHART: Nigeria’s Inflation Rate 2010–2019

Nigeria’s annual inflation rate increased for the fifth straight month to 12.13% in January 2020, representing a 0.15% increase from 11.98% in December 2019, making it the highest inflation rate since April 2018, following food price increases, amid shortages caused by prolonged border closure, according to data from the National Bureau of Statistics (NBS). In today’s Techloy chart, we look back at the country’s annual rate of inflation, based on the percentage average from 2010 to 2019, which shows that the Nigeria experienced the lowest average inflation rate of 8.05% back in 2014, while 2017 saw the country’s highest average inflation rate of 16.55% within the past decade.

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