Impact of Inflation on Consumption in Nigeria
Student: Elias Inalegwu Ogwuche (Project, 2025)
Department of Economics and Development Studies
Federal University, Dutsin-Ma, Katsina State
Abstract
ABSTRACT
This study examines the impact of inflation on consumption in Nigeria using time series data from 1990 to 2023. The results of the Zivot and Andrews unit root test indicate that consumption and GDP are non-stationary at levels but become stationary after differencing, while inflation rate is stationary at levels. The study employs a regression analysis to investigate the relationship between inflation and consumption, controlling for other macroeconomic variables. The findings suggest that inflation has a significant negative impact on consumption in Nigeria. The study's results have implications for policymakers, highlighting the importance of price stability in promoting consumption and economic growth. The findings of this study can inform policy decisions aimed at mitigating the adverse effects of inflation on consumption and promoting economic stability in Nigeria.
Keywords
For the full publication, please contact the author directly at: eliasinalegwuogwuche@gmail.com
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Institutions
- Landmark University, Omu-Aran, Kwara State 1
- Lead City University, Ibadan, Oyo State 1
- Lens Polytechnic, offa, Kwara State. 215
- Madonna University, Elele, Rivers State 20
- Madonna University, Okija, Anambra State 2
- Mcpherson University, Seriki Sotayo, Ogun State 1
- Michael and Cecilia Ibru University, Owhrode, Delta State 1
- Michael Okpara University of Agriculture, Umudike 43
- Michael Otedola Col of Primary Educ. Epe, Lagos (affl To University of Ibadan) 8
- Modibbo Adama University, Yola, Adamawa State 15