Nigerian households' inflation perception hits 77.2% in September 2026 CBN survey
Nigerian households' perception of high inflation jumped to 77.2% in September 2026 from 67.2% in August, according to the Central Bank of Nigeria's latest Inflation Expectations Survey. The overall Inflation Perception Index rose to 43.1 points from 39.6, confirming inflation remains a major concern nationwide.
Rural households felt the pressure most at 79.1%, compared to 76.2% in urban areas. Income level made a significant difference: households earning below N70,000 recorded the highest perception at 80.0%, while those earning above N350,000-N400,000 reported the lowest at 59.1%. Respondents identified energy costs, exchange rates, interest rates, and insecurity as primary drivers of their inflation concerns.
Despite current worries, expectations for the future are more moderate. The Inflation Expectations Index stood at 25.1 points in September - well below the 43.1-point perception index. About 29.5% of households expect inflation to moderate over the next six months. Meanwhile, Nigeria's actual headline inflation rate per NBS eased marginally to 15.39% in August from 15.43% in July.
For households earning below N70,000 - where 8 in 10 feel inflation is high - this data suggests reviewing budgets and expenses as year-end approaches, while monitoring whether the anticipated easing of inflationary pressures materializes in coming months.