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
- Binyaminu Usman Polytechnic, Hadijia, Jigawa State 3
- Borno State University, Maiduguri, Borno State 15
- Bowen University, Iwo, Osun State 1
- Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State 254
- College of Agriculture and Animal Science, Mando Road, Kaduna, Kaduna State 1
- College of Agriculture, Science and Technology, Lafia, Nasarawa State 8
- College of Education, Akwanga (affl To Ahmadu Bello Univ, Zaria) 1
- College of Education, Eha Amufu, (Affliliated To Unn), Enugu State 1
- College of Education, Warri (Affiliated To Delta State Uni, Abraka), Delta State 1
- College of Health Technology, Calabar, Cross River State 1