Inflation Nigeria 2007
Average inflation: 5.4%
Inflation in 2007
Inflation is very high at 5.4%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 8.0%. The lowest inflation was in September at 4.1%.
- Highest month
- January: 8.0%
- Lowest month
- September: 4.1%
- Difference
- 3.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 10.2%. The lowest price increase was in Food with an average of 2.2%.
- Highest increase
- Energy: 10.2%
- Lowest increase
- Food: 2.2%
Historical Context
Inflation is 1.5 percentage points lower than the 5-year average of 6.9%. This approaches the lowest level since records began (5.4% in 2007).
- 5-year average
- 6.9%
- 10-year average
- 6.9%
- All-time high (2006)
- 8.4%
- All-time low (2007)
- 5.4%
Trend
Over the period 2006-2007, inflation shows a downward trend. Compared to 2006, inflation has fallen by 3.0 percentage points.
- Change vs. previous year
- -3.0 percentage points
- Largest monthly swing
- April: -8.4 percentage points
ECB Target
Inflation is 3.4 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for NGN 100 this year will cost approximately NGN 105.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2007
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2006 |
|---|---|---|
| January | 8.0% | -2.7 |
| February | 7.1% | -3.7 |
| March | 5.2% | -6.8 |
| April | 4.2% | -8.4 |
| May | 4.6% | -5.9 |
| June | 6.4% | -2.1 |
| July | 4.8% | +1.8 |
| August | 4.2% | +0.5 |
| September | 4.1% | -2.2 |
| October | 4.6% | -1.5 |
| November | 5.2% | -2.5 |
| December | 6.6% | -1.9 |
| Average | 5.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.