Additionally, within businesses, the corresponding distribute of high inflation perception rose from 61.8 per cent in August 2026 to 62.6 per cent in the critique month,” CBN stated in the survey.
The figures indicate that perceptions of inflation varied according to household location and earnings extent during the analysis period.
Energy and supplant rates drive concerns
Respondents identified assorted factors as important contributors to their perception of inflation, including energy, material rates, change rates and insecurity featuring prominently.
- Within businesses, micro enterprises recorded the highest inflation perception at 67.3%, followed by medium-sized businesses at 62.4%.
- Big and lesser businesses each recorded a 59.4% perception of high inflation.
- Substantial businesses recorded the highest proportion of respondents perceiving inflation as moderate at 32.9%, followed by medium enterprises at 30.9%, compact businesses at 28.3% and micro businesses at 24.0%.
- Raw materials and household purchases, as well as the activities of middlemen, were perceived as the least significant contributors to complete inflation during the critique period.
The findings demonstrate that inflation concerns remained widespread across both households and businesses, although the intensity varied by firm size and household characteristics.
Respondents assume inflation to ease
Despite the stronger perception of present inflation, respondents expressed extra moderate expectations for the months ahead.
The CBN said respondents anticipated a progressive decline in inflation over the following three and six months, including businesses showing stronger expectations of moderation over the longer period.
- The provide of businesses expecting inflation to moderate over the subsequent six months was 26.9%, compared together with 15.8% expecting moderation over the upcoming month.
- In the midst of households, 29.5% of respondents expected inflation to moderate over the coming six months.
- The Inflation Expectations Index stood at 25.1 points in September, below the 43.1-aspect Inflation Perception Index.
- A increased proportion of firms, 62.3%, reported increased expenditure due to inflation, compared including 58.8% of household respondents.
The CBN said both businesses and households expected inflation-linked expenditure pressures to moderate over the upcoming six months, including the stronger expectations within firms supporting the broader expectation for easing inflationary pressures.
In September, Nairametrics reported that over 68.4% of Nigerians earning below N70,000 perceived inflation as high in August 2026, the highest degree recorded across the salary categories surveyed by the CBN.
Meanwhile, the Statewide Bureau of Metrics (NBS) reported that Nigeria’s headline inflation rate eased marginally to 15.39% in August 2026 from 15.43% in July.
The provide of Nigerian households that perceived inflation as high rose to 77.2% in September 2026, up from 67.2% in August.
This is according to the newest Inflation expectations survey by the Central Bank of Nigeria (CBN).
The increase came as the entire Inflation Perception Index rose to 43.1 points from 39.6 points in August, indicating that inflation remained a important consideration between respondents.
Yet, expectations for the nearby term were extra moderate, using respondents anticipating a progressive easing of inflation over the upcoming three and six months.
Household inflation perception hits 77.2%
The CBN said the proportion of all respondents who perceived inflation as high increased to 69.5% in September from 64.3% in August, including households recording a stronger broaden than businesses.
- “Within household respondents, the communicate who perceived inflation as high rose from 67.2 per cent in August 2026 to 77.2 per cent in September 2026.
Source: Inflation hits harder as 77.2% of Nigerian households report high prices
