By Yusuf Mutiu-Olaitan
August 28th, 2024
Household and businesses in Nigeria are expected to face a rise in inflation in the coming one to six months.
This was confirmed according to the Central Bank of Nigeria’s July inflation Expectations Survey Report published on Tuesday.
The survey revealed respondents expect inflation to increase in the months under review with indices of 37.4 for the next month, -26.3 for the next two months and -15.8 for the coming six months.
The report, however said respondents are expecting the inflation to reduce minimally over the next half a year.
“Overall, both businesses and households believe that the inflation rate will rise further in the periods”, the survey revealed.
Changes in energy prices, transportation costs and exchange rates are expected to be the primary sources for the rise in inflation.