Inflation climbed steadily after the June 2023 FX reform, peaking at 34.80% in December 2024 — the highest since the 1990s — then began easing through 2025–2026 to 15.38% by March 2026.
Inflation measures how fast everyday prices are rising. The 2023–2024 surge sharply cut household purchasing power; the recent slowdown (disinflation) means prices are still rising, but far more slowly than at the peak.
The main chart is year-on-year headline inflation. Food inflation usually runs hotter and core inflation (excluding food and energy) lower — the final chart overlays all three so you can see how far they diverged after 2023.
Date Range Filter
What this shows: Year-on-year headline inflation. Prices rose fastest in December 2024 at 34.80%, then inflation slowed to 15.38% by March 2026 — still rising, but at less than half the peak pace.
Pick an amount and two dates to see how far prices moved between them, computed directly from the NBS headline-inflation series plotted above.
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Food prices have consistently run hotter than headline inflation, reflecting Nigeria's exposure to local supply shocks and currency-driven import costs.
Core inflation strips out volatile food and energy prices — typically lower than headline, but following the same FX-reform-driven upward trend.
Comparing all three measures together shows food has driven most of the divergence from core inflation since the 2023 FX reform.