Nigeria’s highest inflation rate 2024

Nigeria recorded highest inflation rates in history in year 2024, jumping from 22.41% in 2023 to 33.88% in June 2024.

The figures, many stakeholders argued that the figures from the National Bureau of Statistics (NBS) understate the actual rate and do not reflect the empirical inflation rates over the period.

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The figures have remained conservative, and unleashing unprecedented hardship on citizens, and many households.

See details of headline inflation rate 2024, including preceding years, below.

🇳🇬HEADLINE INFLATION RATE 2024

Jan 2024 — 29.90%

Feb 2024 — 31.70%

Mar 2024 — 33.20%

Apr 2024 — 33.69%

May 2024 — 33.95%

Jun 2024 — 34.19%

Jul 2024 — 33.40%

Aug 2024 — 32.15%

Sep 2024 — 32.70%

Oct 2024 — 33.88%

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Previous years

May 2011 — 12.4%

May 2015 — 9.0%

May 2023 — 22.41%