Food prices in Nigeria advanced 14.85 percent year-on-year, up from a 14.67 percent rise in December. It was the highest food inflation since March 2018, amid shortages caused by border closures. On a monthly basis, food prices increased 0.99 percent, after rising 0.97 percent in the previous month. Nigeria Food Inflation - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.
Food Inflation in Nigeria averaged 11.66 percent from 1996 until 2019, reaching an all time high of 39.54 percent in September of 2001 and a record low of -17.50 percent in January of 2000. This page provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Food Inflation in Nigeria is expected to be 15.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Nigeria to stand at 13.00 in 12 months time. In the long-term, the Nigeria Food Inflation is projected to trend around 12.00 percent in 2021 and 11.00 percent in 2022, according to our econometric models.