Compare consumer inflation with GDP deflator inflation in Nigeria to see how household prices and economy-wide prices have changed.
Consumer inflation in Nigeria was 33.2% in 2024, while GDP deflator inflation was 14.1%. The difference was 19.2 percentage points, with consumer prices increasing faster. Over the latest five-year period, consumer prices changed by +184.0% and the GDP deflator changed by +75.2%.
In the common comparison year 2024, Nigeria ranked 9th of 193 economies by consumer inflation and 24th of 213 by GDP deflator inflation.
Nigeria Inflation Measures Compared by Year
Data source: World Bank, World Development Indicators — Inflation, consumer prices, annual % (FP.CPI.TOTL.ZG); Inflation, GDP deflator, annual % (NY.GDP.DEFL.KD.ZG); Consumer Price Index (2010 = 100) (FP.CPI.TOTL); GDP deflator (NY.GDP.DEFL.ZS).
License: CC BY-4.0. Retrieved 2026-07-12.
About the Indicators
Inflation, consumer prices, annual %. The year-on-year percentage change in the Consumer Price Index, the standard measure of how quickly the cost of living is rising or falling for the average household.
Inflation, GDP deflator, annual %. The annual growth rate of the GDP deflator, capturing economy-wide inflation across all domestically produced goods and services rather than just consumer purchases.
Consumer Price Index (2010 = 100). Measures the change over time in the prices of a fixed basket of goods and services typically purchased by households, expressed as an index with the year 2010 set to 100. Compiled by national statistical agencies from regular retail price surveys.
GDP deflator. The ratio of GDP in current local-currency prices to GDP in constant local-currency prices, expressed as an index. Unlike the CPI, it covers price changes across everything produced domestically, not just goods and services bought by households.