I have been searching this for a while, but fail to find an up-to-date guide of installing the newest version of nginx and php on a centos system. Any help is appreciated. Thanks!
It's pretty straight forward.
Add the repo for nginx, yum install nginx Then install php, php-cli, spawn-fcgi or php-fpm (there might be one or two other you need to do, but google will have them).
Then just configure nginx to use fcgi for the php and you are good to go.
I did this just last week and it was pretty painless. I dont have the links handy though, but I just googled and had luck.
Install php, php-cli, nginx and spawn-fcgi from your repository. I did this a little while ago on a Debian based server. I used these instructions that are specific to Ubuntu, but gave me enough information to get up and running.
After some quick searching I found instructions specific to CentOS as well.