NBC News updated 10/12/2011 6:28:08 PM ET 2011-10-12T22:28:08

Fueled by Tea Party supporters, conservatives and high-interest GOP primary voters, former Godfather’s Pizza CEO Herman Cain now leads the race for the Republican presidential nomination, according to the latest NBC News/Wall Street Journal poll.

And in yet another sign of how volatile the Republican race has been with less than three months until the first nominating contests, the onetime frontrunner, Texas Gov. Rick Perry, has plummeted to third place, dropping more than 20 percentage points since late August.

Cain checks in as the first choice of 27 percent of Republican voters in the poll, followed by former Massachusetts Gov. Mitt Romney at 23 percent and Perry at 16 percent. After those three, it’s Texas Rep. Ron Paul at 11 percent, former House Speaker Newt Gingrich at 8 percent, Bachmann at 5 percent and former Utah Gov. Jon Huntsman at 3 percent.

In the previous survey, conducted in late August, Perry led the field at 38 percent, Romney stood at 23 percent, while Cain was at only 5 percent.