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Central Bank survey shows lower-income Nigerians continue to feel the pressure of rising prices more strongly than other income groups.

The Central Bank of Nigeria (CBN) has reported that 68.4 per cent of Nigerians earning below N70,000 monthly perceived inflation as high in August 2026, representing the highest level recorded among the income categories surveyed.

The finding highlights the continued pressure of rising living costs on lower-income households, many of whom have limited financial capacity to absorb increases in the prices of food, transportation, energy and other essential goods and services.

The CBN’s Inflation Expectations Survey tracks how households and businesses perceive current inflationary pressures and their expectations for future price movements. The survey also examines differences in inflation perceptions across income groups and other demographic categories.

The August 2026 findings indicate that lower-income earners remained particularly sensitive to price increases, with those earning below N70,000 recording the highest proportion of respondents who described inflation as high.

The development underscores the unequal impact of inflation across income groups. While rising prices affect households generally, lower-income earners often have less disposable income and are therefore more exposed to changes in the cost of basic necessities.

For many households, increases in the prices of food, transport, electricity and other essential services can significantly reduce purchasing power, forcing families to adjust spending, cut back on non-essential needs or seek additional sources of income.

The CBN has continued to monitor inflation expectations as part of its assessment of economic conditions and monetary policy. Such surveys provide insight into how households and businesses experience price pressures beyond official inflation statistics.

The latest finding also reinforces the importance of policies aimed at improving household purchasing power, supporting vulnerable Nigerians and ensuring that economic gains translate into better living conditions.

With lower-income households recording the highest perception of inflation, sustained efforts to moderate price pressures remain critical to reducing the burden of the cost-of-living crisis on ordinary Nigerians.