Posted 1/30/2024, 3:30:41 PM
Nigeria Ranks 2nd Lowest for Cost of Living Despite High Food Inflation
- Despite high inflation and a weak currency, Nigeria has the 2nd lowest cost of living in the world according to Numbeo's 2024 index
- Nigeria's cost of living index is 19.0, compared to 133.8 for the highest country, Bermuda
- Food inflation has accelerated to nearly 34% in Nigeria, yet cost of living remains relatively low
- 100% of survey respondents were dissatisfied with Nigeria's high food costs, though global cost of living rank is still very low
- Numbeo data is based on user inputs and data collected manually from authoritative websites and publications