Middle-income Nigerians feel inflation highest as CBN survey shows improving outlook

The Central Bank of Nigeria’s July 2026 Inflation Expectations Survey shows that Nigerians earning between ₦150,001 and ₦250,000 per month were the most likely to see inflation as high, with 71.0% perceiving current prices as high. The Inflation Perception Index stood at 40.0 points, while the Inflation Expectation Index for August 2026 was 21.2 points, indicating respondents anticipate a moderation in inflation next month. Lower-income groups also reported high inflation perception: 66.2% of those earning below ₦70,000 and 66.9% of those earning ₦70,000–₦150,000 felt prices were high. Among businesses, micro enterprises reported the highest inflation perception at 70.6%, compared with lower rates for larger firms. Urban households (68.8%) felt inflation more acutely than rural ones (64.3%). The survey comes amid weak household earnings; PiggyVest’s 2025 Savings Report notes about 3 in 10 Nigerians earn below ₦100,000 monthly and 28% have no income. Headline inflation eased to 15.91% in June 2026 from 15.93% in May, and month‑on‑month inflation slowed to 1.66%. The CBN said 29.7% of businesses expect inflation to moderate over the next six months, versus 17.0% for the next month, reflecting stronger medium‑term optimism. Will you adjust your spending or savings plans given the mixed signals of high current prices but expected near‑term relief?

SOURCE: https://nairametrics.com/2026/08/07/nigerians-earning-n150000-n250000-feel-inflation-most-cbn/