The Central Bank of Nigeria (CBN) Inflation Expectations Survey (IES) for February 2025 was carried out from the NBS establishment frame aand the NPC National list of Enumeration Area (EAs) among selected businesses and households with a sample of 1,900 and 1,665 respectively, in the 36 states of the federation and the Federal Capital Territory. The IES aims to gather insights on how businesses and households perceive current and future inflation trends and the major drivers of inflation. By understanding how people anticipate changes in the cost of goods and services, monetary policy can be better managed to stabilize the economy and promote growth.
Key Highlights
- 1. The businesses and households’ respondents perceive the current inflation rate to be moderating in February 2025 compared to the previous month
- 2. Most respondents believe that energy cost, exchange rate, transportation cost, interest rate and insecurity influenced their perception on the inflation rate in changes in February 2025.
- 3. Most household respondents expect their expenditure to remain the same, while most business respondents expect their expenditure to increase further in February 2025.
- 4. Majority of the respondents expect the CBN to reduce the interest rate.
- 5. Majority of respondents follow the CBN communication closely and believe that the CBN is transparent in its communication.
- 6. 38.4% of respondents significantly believed that the CBN announcements impact inflation.
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