While inflation is technically slowing down in Nigeria, the Central Bank of Nigeria’s (CBN) July 2026 survey reveals that the daily reality of high prices is hitting mid-level earners the hardest.
The Hardest Hit (₦150k – ₦250k) 71% of Nigerians earning between ₦150,000 and ₦250,000 a month perceive inflation as “high” the largest of any income group. They are feeling the loss of purchasing power more sharply than lower earners (who are already used to strict budgets) and higher earners (who have more financial padding).
Urban households (68.8%) feel the heat more than rural ones (64.3%). Similarly, micro-businesses reported a massive 70.6% high-inflation perception, while large corporations felt it the least. To put this pressure into perspective, a 2025 PiggyVest report noted that nearly 3 in 5 Nigerians either earn below ₦100,000 or have no monthly income at all.
Despite the current squeeze, the data shows actual inflation is cooling. Nigeria’s headline inflation dropped to ‘’15.91% in June 2026’’ a massive improvement from the crushing 25.29% we saw in June 2025.
Because of this gradual slow-down, the CBN reports that Nigerians are finally starting to feel a bit more optimistic, with many expecting prices of goods and services to moderate in the coming months.
Credit: Nairametrics
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