Nigerians Expect Inflation to Ease in Six Months Despite Ongoing Price Pressures – CBN Survey

Despite ongoing pressure on household budgets, Nigerians are beginning to believe that inflation may slow down in the coming months. This is according to a new Central Bank of Nigeria (CBN) survey, which highlights both persistent economic strain and cautious optimism across households and businesses.

The survey revealed that the Inflation Expectations Index stood at 44.8 points in May 2026, showing that many Nigerians still perceive inflation as high. Businesses and households alike continue to feel the impact of rising costs, even as macroeconomic conditions show signs of gradual improvement.

However, sentiment shifts when looking ahead. Respondents expect inflationary pressures to ease significantly over the next six months, with projections dropping to 26.2 index points. This suggests growing confidence that recent monetary policies and reforms may begin to stabilize prices in the medium term.

The report also shows that inflation perceptions remain uneven across the country. About 68.4% of businesses and 72.8% of households reported high inflation in May, with rural communities and low-income earners feeling the impact more severely. Key drivers identified include energy costs, exchange rate volatility, interest rates, and insecurity, all of which continue to shape daily living expenses.

Despite these challenges, optimism is gradually building. Many respondents say they are closely following CBN decisions through social media, radio, and news platforms, indicating stronger public engagement with economic policy. While inflation remains a major concern, the overall outlook suggests cautious hope that prices could stabilize if current reforms continue.

source: nairametrics