Inflation Nigeria 2011
Average inflation: 10.8%
Current Inflation
Inflation is very high at 10.8%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 12.8%. The lowest inflation was in August at 9.3%.
- Highest month
- March: 12.8%
- Lowest month
- August: 9.3%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 15.5%. The lowest price increase was in Food with an average of 10.3%.
- Highest increase
- Energy: 15.5%
- Lowest increase
- Food: 10.3%
Historical Context
Current inflation is around the 5-year average of 10.8%.
- 5-year average
- 10.8%
- 10-year average
- 10.4%
- All-time high (2010)
- 13.8%
- All-time low (2007)
- 5.4%
Trend
Inflation shows a downward trend. Compared to 2010, inflation has fallen by +3.0 percentage point.
- Change vs. previous year
- -3.0 percentage points
- Largest monthly swing
- February: -4.5 percentage points
ECB Target
Inflation is 8.8% 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 €100 this year will cost approximately €110.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2011
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2010 |
|---|---|---|
| January | 12.1% | -2.3 |
| February | 11.1% | -4.5 |
| March | 12.8% | -2.0 |
| April | 11.3% | -3.7 |
| May | 12.4% | -0.5 |
| June | 10.2% | -3.9 |
| July | 9.4% | -3.6 |
| August | 9.3% | -4.4 |
| September | 10.3% | -3.3 |
| October | 10.5% | -2.9 |
| November | 10.5% | -2.3 |
| December | 10.3% | -1.5 |
| Average | 10.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.