CBN Survey: Rising Prices Push Up Household and Business Spending

The rising cost of living kept pressure on Nigerians through June, forcing both households and businesses to spend more on everyday needs, according to the Central Bank of Nigeria’s latest Inflation Expectations Survey.

The survey — which tracks how firms and families perceive and anticipate price changes — found spending on essentials continuing to climb even as headline inflation showed early signs of cooling.

The gap between improving statistics and lived experience is a familiar one: disinflation means prices rise more slowly, not that they fall, so budgets remain stretched long after the trend turns.

Inflation expectations matter to policy because they can be self-fulfilling: when businesses expect higher costs, they price ahead of them.

The survey gives the Monetary Policy Committee a read on sentiment as it weighs how quickly to ease its restrictive stance.

Source: The Sun