Inflation Nigeria 2010
Average inflation: 13.8%
Inflation in 2010
Inflation is very high at 13.8%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 15.6%. The lowest inflation was in December at 11.8%.
- Highest month
- February: 15.6%
- Lowest month
- December: 11.8%
- Difference
- 3.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 14.9%. The lowest price increase was in Energy with an average of 10.0%.
- Highest increase
- Food: 14.9%
- Lowest increase
- Energy: 10.0%
Historical Context
Inflation is 3.5 percentage points higher than the 5-year average of 10.3%. This approaches the highest level since records began (13.8% in 2010).
- 5-year average
- 10.3%
- 10-year average
- 10.3%
- All-time high (2010)
- 13.8%
- All-time low (2007)
- 5.4%
Trend
Over the period 2008-2010, inflation shows an upward trend. Compared to 2009, inflation has risen by 1.2 percentage points.
- Change vs. previous year
- +1.2 percentage points
- Largest monthly swing
- September: +3.2 percentage points
ECB Target
Inflation is 11.8 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 113.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2010
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2009 |
|---|---|---|
| January | 14.4% | +0.4 |
| February | 15.6% | +1.0 |
| March | 14.8% | +0.4 |
| April | 15.0% | +1.7 |
| May | 12.9% | -0.3 |
| June | 14.1% | +2.9 |
| July | 13.0% | +1.9 |
| August | 13.7% | +2.7 |
| September | 13.6% | +3.2 |
| October | 13.4% | +1.8 |
| November | 12.8% | +0.4 |
| December | 11.8% | -2.1 |
| Average | 13.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.