June 5, 2025/CBN
Key Highlights
- In May 2025, majority of the respondents opined that the current inflation rate was high.
- Most respondents (businesses and Households) identified energy, exchange rate, and transportation as the top three inflation drivers. However, natural disasters, activities of middlemen and infrastructural challenges were perceived as less significant contributors to inflation drivers in May 2025.
- More businesses (75.1%) expected their expenditure to increase compared to households (67.1%) in May 2025.
- Majority of the respondents expect the CBN to reduce the interest rate.
- The majority of respondents follow the CBN communication closely and believe that the CBN is transparent in its communication.
- 38.6% of respondents significantly believed that the CBN announcements impact inflation.
