CBN says inflation will be driven by changes in energy prices, exchange rates, and transportation costs, over the next six months.
The Central Bank of Nigeria says inflation will be driven by changes in energy prices, exchange rates, and transportation costs, over the next six months.
CBN said businesses and households were interviewed about their perceptions of the inflation rate and their responses formed the basis of the survey.“Over the next six months, both businesses and households expect the inflation outlook to be primarily driven by changes in energy prices, exchange rates, and transportation costs,” the financial regulator said.
CBN said respondents expect increased expenditure in the next month and the next three months — with positive indices of 29.2 and 30.3 points, respectively. “While households expect to maintain their expenditure basket till October 2024 but significantly decrease it in February 2025, businesses indicated a steady decline in their expenditure appetite over the reviewed periods.”84.9 percent of the respondents felt the current level of inflation was too high, “However, a breakdown of the responses indicates that businesses are slightly more optimistic than households .
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