axxecodes/nigeria-cpi-analysis

I used 36 months of official NBS data and applied the COICOP framework — which I first encountered during my Bureau of Statistics internship — to track Nigeria's inflation crisis from 2022 through 2024. The analysis showed food inflation consistently outpacing headline rates by 6–7 percentage points, with a clear acceleration point in mid-2023. # 🇳🇬 Nigeria Consumer Price Index (CPI) Analysis — 2022 to 2024 A data analysis project exploring Nigeria's inflation trends over a 3-year period using official data from the National Bureau of Statistics (NBS). Built with Microsoft Excel as part of a data analyst portfolio. --- ## The Question **How has inflation evolved in Nigeria between 2022 and 2024, which categories have driven it most, and what patterns emerge from the data?** Nigeria experienced a significant inflationary period during this window — shaped by global commodity shocks, fuel subsidy removal in mid-2023, and currency depreciation. This project uses publicly available CPI data to trace that story with numbers. --- ## Data Source - **Publisher:** National Bureau of Statistics (NBS) Nigeria - **Portal:** nigerianstat.gov.ng - **Coverage:** January 2022 – December 2024 (36 months) - **Framework:** COICOP 2018 (Classification of Individual Consumption by Purpose) - **Categories tracked:** Headline, Food, Core, Urban, Rural, plus 5 COICOP sub-categories --- ## Tools Used | Tool | Purpose | |------|---------| | Microsoft Excel | Data cleaning, analysis, pivot tables, charting | | Excel Formulas | AVERAGE, IF, MAX, MIN, cross-sheet references, conditional formatting | | Excel Charts | Line chart (trend), Bar chart (annual averages) | --- ## Key Findings 1. **Headline inflation nearly tripled** — rising from 15.6% in January 2022 to a peak of 34.8% by December 2024, a 19.2 percentage point increase. 2. **Food inflation was the primary driver** — consistently outpacing headline inflation by 6–7 percentage points throughout the period, indicating persistent food supply and logistics pressures. 3. **The sharpest acceleration occurred in mid-2023** — following the removal of Nigeria's fuel subsidy in June 2023, month-on-month inflation surged above 3%, the highest single-month jump in the dataset. 4. **Core inflation also rose sharply** — from ~14% in early 2022 to ~29% by end-2024, confirming …