The Central Bank of Nigeria released its July 2025 Household Expectations Survey, showing that overall consumer sentiment remained negative at -12.7 index points, alongside a still-pessimistic assessment of economic conditions. However, indicators tied to household finances and income improved from June, and the survey points to a more positive macroeconomic outlook over longer horizons. The Economic Condition index stood at -12.5 index points, while the Family Financial Situation Index improved to -21.0 (from -22.3 in June 2025) and Family Income Sentiment rose to -4.7 (from -5.9). On prices, sentiment on price changes by period improved from -23.0 index points in June 2025 to -13.8 in July 2025, and the average sentiment on price changes for selected items declined from 38.2 to 34.7, with Food & Other Household Items easing from 14.6 to 6.7 index points, though respondents still perceived prices as high and anticipated a slight increase in average prices over the next three to six months.
Central Bank of Nigeria 2025-09-01
Central Bank of Nigeria publishes July 2025 household expectations survey with consumer sentiment at -12.7 and improved price-change perceptions
The Central Bank of Nigeria's July 2025 Household Expectations Survey shows persistent negative consumer sentiment at -12.7 index points, with a pessimistic view of economic conditions. However, household finances and income sentiment improved, and a more positive macroeconomic outlook is anticipated over longer horizons. Price sentiment improved, though respondents still expect a slight increase in average prices in the coming months.