CBN Projects Gradual Inflation Drop In Next Six Months

Over the next six months, the Central Bank of Nigeria has predicted a gradual decrease in inflation.

This is stated in the newly released report on February 2025 inflation expectations.

According to the report, respondents to the survey predict a gradual decrease in inflation over the next six months for both businesses and households.

Additionally, the respondents anticipated a decrease in spending because their spending decreased gradually over the course of the following six months.

More households earning above N200,000 per month were able to determine that inflation was moderating because more factors like energy costs, exchange rates, transportation costs, interest rates, and insecurity were influencing their perception of the inflation rate in the month being examined, according to further analysis by income distribution analysis.

However, the apex bank claimed that 65.1% of respondents wanted the financial institution to reduce their interest rates.

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This is because, according to the National Bureau of Statistics (NBS), the inflation rate for February decreased to 23.18% year-on-year in February 2025, reflecting a second consecutive monthly decline from the previous record of 24.4%, which was released in January.

Source: Channels TV