A Quantitative Study of Nigerian Consumers’ Perceptions of Inflation and Its Impact (2023–2024)

A Quantitative Study of Nigerian Consumers’ Perceptions of Inflation and its Impact (2023–2024)

Abdullahi Ya’u Usman, Saidu Ibrahim Halidu

ANAN University Kwall, Nigeria

DOI: https://dx.doi.org/10.47772/IJRISS.2025.905000250

Received: 08 May 2025; Accepted: 13 May 2025; Published: 10 June 2025

ABSTRACT

This study investigates Nigerian consumers’ perceptions of inflation and its impact on household welfare, drawing on data from an online survey administered via WhatsApp and Facebook between 23 July and 4 August 2024. A total of 163 valid responses from adult Nigerians across diverse demographic groups were analysed. Composite indices were constructed for perceived inflation (mean = 4.21 on a 5-point scale), coping strategies (mean = 2.87 on a 4-point scale), and welfare impact (mean = 3.78 on a 5-point scale). Inferential analyses revealed that female respondents reported significantly higher perceived inflation than males (t (161) = 2.32, p = .022), while age, education, employment status, and income did not yield significant differences. Pearson correlation demonstrated moderate positive associations between perceived inflation and coping behaviours (r = .48, p < .001) and strong positive associations with adverse welfare impact (r = .65, p < .001). A negative correlation emerged between perceived inflation and consumer confidence (r = –.52, p < .001). Multiple regression indicated that perceived inflation (β = .62, p < .001) and coping strategies (β = .28, p = .011) jointly explained 58 percent of the variance in welfare impact. Findings underscore the pervasive nature of inflationary pressures in Nigeria and the partial efficacy of household coping measures. Implications include the need for targeted cash transfers, gender-sensitive support programs, and real-time consumer sentiment monitoring. The study contributes novel micro-level evidence on inflation experiences, informing both policy interventions and business strategies in high-inflation contexts.

Keywords: Perceived inflation, Coping strategies, Welfare impact, Consumer confidence, Nigeria

INTRODUCTION

This chapter introduces the study on Nigerian consumers’ perceptions of inflation and its impact, based on an online survey administered via WhatsApp and Facebook between 23 July and 4 August 2024. It outlines the contextual background, the core problem motivating the research, the questions guiding inquiry, the objectives and hypotheses, and the anticipated significance of the findings.

Background

Persistent inflation has eroded the purchasing power of Nigerian households for more than a decade. Annual consumer-price inflation averaged 24.7 percent in 2023, nearly triple the Sub-Saharan African regional average of 8.2 percent, and remained elevated into mid-2024 despite monetary-policy tightening (Trading Economics, 2024; World Bank, 2024). Economists have documented how high inflation correlates with diminished consumer confidence, with a recent ARDL analysis indicating that a one-unit rise in headline inflation in Nigeria corresponds to a 0.01 decline in consumer-confidence indices (Aberu, 2023).

Food and energy costs have driven much of the surge. Since early 2024, Nigeria’s rebasing of the Consumer Price Index (CPI) from a 2009 base year to 2024 revealed an annual inflation rate of 24.48 percent in March 2025, down from a reported 34.8 percent but still among the world’s highest (Odugbemi, 2025). S&P Global forecasts inflation at 18.5 percent for 2024, warning that sustained price pressures may further dampen household demand (Harker, 2023).

The adverse impact on living standards has drawn growing academic attention. Studies employing ARDL and VAR models have shown that inflation and unemployment jointly account for over two-thirds of variability in Nigeria’s poverty level, with higher food prices disproportionately affecting low-income urban consumers (Siyan, Adegoriola, & Adolphus, 2016; Yusuf, 2021). Research on shrinkflation also highlights consumers’ frustration when package sizes shrink but prices remain constant, exacerbating the perception of declining real incomes (Okafor, 2023).

Monetary and fiscal reforms aimed at stabilizing prices—such as subsidy removal and naira devaluation—have sparked debate. While the World Bank projected headline inflation peaking at 31.7 percent in 2024 before easing to 15.1 percent by 2026 (Sienaert, 2024), critics argue that shock therapy has deepened short-term hardship (Financial Times, 2024). An FT investigation noted that fuel-price hikes and currency adjustments pushed many global consumer-goods firms to scale back Nigerian operations, reflecting how macroeconomic policies translate swiftly into everyday consumer pain (Financial Times, 2024).

Despite the wealth of macroeconomic data, empirical studies on how Nigerian consumers perceive these price changes—and how these perceptions translate into coping strategies—remain limited. Most existing work relies on secondary time-series indicators or small convenience samples. The rapid proliferation of social-media platforms provides an opportunity to conduct timely, low-cost surveys that capture real-time consumer sentiment across demographic groups.

This study employs an online questionnaire distributed via WhatsApp and Facebook—two of Nigeria’s most widely used digital communication channels—to fill this gap. It seeks to quantify perceptions of price increases, document the self-reported impact on household welfare, and explore demographic variations in these experiences.

Statement of the Problem

Nigeria’s enduring high inflation has been linked to eroding real incomes, rising poverty, and declining consumer confidence. Although macroeconomic indicators chronicle price movements, they do not reveal how consumers perceive and cope with these changes. Without direct evidence of household experiences, policymakers lack crucial insights for designing targeted social-protection measures. Moreover, demographic differences – by age, education, employment status, and income – may influence both perception and impact, yet these variations are under-researched. Therefore, this study addresses the problem of insufficient micro-level data on consumer perceptions of inflation and its welfare implications in Nigeria.

Research Questions

What are Nigerian consumers’ perceptions of price changes across key expenditure categories (food, transportation, utilities) during August 2023 – July 2024?

• How do these perceptions vary by demographic factors such as age, gender, education level, employment status, and income range?
• What is the self-reported impact of inflation on household welfare, coping strategies, and expenditure adjustments?
• To what extent do perceptions of inflation correlate with consumer confidence and expectations of future price changes?

Objectives of the Study

To measure the distribution of perceived price changes in major spending categories among Nigerian consumers.

To compare perceptions of inflation across demographic groups (age, gender, education, employment, income).

To document the reported impact of inflation on household welfare, including coping strategies and expenditure adjustments.

To assess the relationship between perceived inflation and consumer confidence about future price trends.

Statement of Hypotheses

H₁₁: Significant differences exist in perceived inflation rates across at least one demographic dimension.

H₁₂: Perceived inflation is significantly associated with the adoption of coping strategies and changes in household expenditures.

H₁₃: Higher perceptions of inflation are significantly associated with lower consumer confidence and more pessimistic price expectations.

Significance of the Study

This study contributes several practical and scholarly insights. First, it provides policymakers with timely, micro-level evidence on how inflation is experienced across diverse demographic groups, informing the design of targeted cash-transfer programs and social-safety nets (World Bank, 2024). Second, it enriches academic literature on consumer behaviour under inflationary pressures by employing digital-survey methods that leverage widespread social-media usage. Third, the findings guide businesses on pricing strategies and demand forecasting in a high-inflation environment, particularly for consumer-goods firms reassessing Nigerian market operations (Financial Times, 2024). Finally, the methodology offers a replicable model for real-time consumer-sentiment monitoring in other emerging economies facing similar macroeconomic challenges.

LITERATURE REVIEW

Conceptual Framework

The conceptual framework for this study interrelates three core constructs: perceived inflation, coping strategies, and household welfare impact. Perceived inflation reflects consumers’ subjective assessments of price changes across expenditure categories (food, transportation, utilities) (Central Bank of Nigeria [CBN], 2025). Coping strategies denote behavioural adjustments—such as reducing non‐essential purchases or switching to cheaper substitutes—adopted in response to rising prices (Okafor, 2023). Household welfare impact encompasses self‐reported changes in living standards, financial stress, and expectations about future price trends (Ijeoma, 2023).

A consumer’s perception of inflation is hypothesized to influence both their coping strategies and the extent of welfare impacts. Demographic factors (age, gender, education, employment status, income) are posited as moderating variables that shape these perceptions and responses (Siyan, Adegoriola, & Adolphus, 2016). The framework thus situates perceived inflation as an independent variable, coping strategies as mediators, and welfare impact as the dependent outcome (CBN, 2017).

Theoretical Framework

The study is grounded in three principal theories:

Rational Expectations Theory: Rational expectations theory holds that economic agents form forecasts of future variables (e.g., inflation) using all available information and consistent econometric models (Muth, 1961). Consumers with rational expectations integrate official inflation data, media reports, and past experiences to anticipate price movements, thus influencing their spending and saving behaviors.

Adaptive Expectations Theory: Adaptive expectations theory posits that agents base forecasts primarily on past errors, adjusting slowly over time (Friedman, 1957). In high‐inflation environments, such as Nigeria, consumers may overweight recent spikes in prices, leading to heightened sensitivity and overestimation of future inflation.

Prospect Theory: Prospect theory emphasizes that individuals evaluate gains and losses relative to a reference point and exhibit loss aversion (Kahneman & Tversky, 1979). Under persistent inflation, consumers perceive price increases as losses in real income, disproportionately affecting their risk attitudes and prompting defensive coping strategies (Okafor, 2023).

These theories collectively explain how consumers form perceptions, adjust expectations, and enact behavioral responses under inflationary pressure. Rational and adaptive expectations provide mechanisms by which objective data and past experiences shape perceptions, while prospect theory accounts for the psychological impact of price changes on decision making.

Review of Empirical Studies

Inflation Perception and Consumer Confidence

An ARDL analysis covering 1996–2022 found that a one‐unit increase in headline inflation in Nigeria corresponds to a 0.01 unit decline in consumer‐confidence indices, indicating significant sensitivity of sentiment to price rises (Aberu, 2023). A subsequent VAR study corroborated these findings, documenting that inflation shocks explain over 60% of short‐term variation in consumer sentiment (Siyan et al., 2016). The CBN’s January 2025 Household Expectations Survey reported that 55.4% of respondents viewed current transportation and medical costs as “high,” and 60% anticipated further increases over the next six months (CBN, 2025).

Coping Strategies under Inflation

Qualitative interviews with urban and rural households in 2023 revealed widespread adoption of rationing, brand‐switching, and bulk buying to mitigate food‐price inflation (Okafor, 2023). Cross‐sectional survey data from Lagos and Kano states indicated that 72% of low‐income respondents reduced non‐essential spending, while 48% reported taking on additional work or credit to maintain consumption levels (Ijeoma, 2023). A panel study demonstrated that adaptive expectations drive a feedback loop: households anticipating higher future prices stockpiled goods, exacerbating short‐run shortages (Odugbemi, 2025).

Demographic Variations in Perceptions

Education and income significantly moderate inflation perceptions. Tertiary‐educated consumers reported 15% lower perceived annual price increases compared to those with secondary education (Chukwu, 2024). Gender differences emerged as well: female respondents exhibited 12% higher inflation sensitivity in food and utility categories, attributed to their larger role in household shopping decisions (CBN, 2017). Age cohorts diverged, with older consumers (56+) showing more conservative expectations than younger adults (18–35), consistent with adaptive‐expectations patterns (Friedman, 1957).

Welfare Impacts and Policy Responses

High inflation in Nigeria has translated into measurable declines in living standards. A time‐series analysis linked 2023’s peak 34.8% inflation to a 4.2% increase in the poverty headcount, disproportionately affecting urban poor (Siyan et al., 2016). The World Bank’s Nigeria Development Update projected that fuel‐price reforms could push an additional one million Nigerians into poverty by end‐2024, underscoring trade‐offs between stabilization policies and welfare (World Bank, 2024).

Consumer attitudes surveys conducted by the CBN in 2017 and 2025 revealed that over 80% of households consider price stability a more urgent policy goal than low interest rates, reflecting the primacy of inflation in welfare considerations (CBN, 2017; CBN, 2025). A Financial Times feature reported that multinational consumer‐goods firms, including Unilever and P&G, have reduced Nigerian operations amid currency devaluation and high inflation, further straining local consumer markets (Financial Times, 2023).

Methodological Innovations in Surveying Inflation Perceptions

Traditional household surveys on inflation rely on face‐to‐face interviews, incurring high costs and delays. Recent studies have leveraged mobile platforms – such as WhatsApp and Facebook – to collect real‐time sentiment data at lower cost and higher frequency (Chukwu, 2024). A pilot survey in June 2024 achieved a 68% response rate via social‐media distribution, demonstrating viability for national‐scale rapid assessments (Nigeria Consumer Pulse Study, 2024).

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METHODS

Research Design

A descriptive, cross‐sectional survey design was employed to capture Nigerian consumers’ perceptions of inflation and its impact during the period 23 July to 4 August 2024. The online survey format facilitated rapid data gathering from a geographically diverse population, leveraging familiar social‐media platforms (WhatsApp and Facebook) to maximize reach. This design was appropriate for documenting current perceptions, coping behaviours, and demographic variations without manipulating any study variables.

Population and Sampling

The target population comprised Nigerian adults aged 18 years and above who were active users of either WhatsApp or Facebook. An online convenience sampling approach was adopted, recognizing both the practical constraints and the exploratory nature of the study. Survey invitations were circulated across ten thematic social‐media groups and thirty individual networks, yielding an initial pool of 200 respondents. After screening for completeness and adherence to inclusion criteria (age, residence in Nigeria, consent to participate), a final sample of 163 valid responses was obtained. This sample size exceeded guidelines for basic descriptive and inferential analyses in social research and allowed for disaggregation by key demographics.

Instrument Development

A structured questionnaire was developed to measure three domains: (1) perceptions of price changes, (2) coping strategies and welfare impacts, and (3) consumer confidence and expectations. The instrument comprised five sections:

• Demographics: Age, gender, highest education level, employment status, and monthly income range.
• Perceived Price Changes: Respondents rated observed price changes in five categories (food, transportation, utilities, healthcare, and household goods) on a five‐point Likert scale (1 = “Much lower,” 3 = “About the same,” 5 = “Much higher”).
• Coping Strategies: Frequency of behaviours such as rationing, switching brands, bulk buying, and increased work hours, rated on a four‐point scale (1 = “Never” to 4 = “Always”).
• Welfare Impact: Self‐assessments of financial stress, changes in savings, and perceived decline in living standards, each measured with a five‐point agreement scale (1 = “Strongly disagree,” 5 = “Strongly agree”).
• Consumer Confidence and Expectations: Levels of confidence in future price stability and anticipated inflation over the next six months, rated on a four‐point scale (1 = “Not at all confident” to 4 = “Very confident” for expectations; reverse‐coded for confidence in stability).

The questionnaire underwent expert review by two economists and one consumer‐behavior specialist to assess face and content validity. Questions were refined for clarity, cultural relevance, and unambiguous phrasing. A pilot test with 20 respondents confirmed internal consistency (Cronbach’s α > 0.75 across multi‐item scales) and identified minor wording adjustments.

Data Collection Procedure

Data were collected over a two‐week period via an online survey link distributed on 23 July 2024. Reminders were posted at intervals of three and seven days to boost response rates. Screened questions ensured that only consenting adults resident in Nigeria could proceed. All responses were anonymous; no personally identifying information was solicited. Survey completion required approximately eight minutes, and technical settings prevented multiple submissions from the same browser session.

Data Analysis Techniques

Survey data were exported from the online platform into a statistical package for analysis. Descriptive statistics (frequencies, means, and standard deviations) summarized demographic profiles, perceived price‐change scores, coping‐strategy frequencies, and welfare‐impact ratings. Inferential analyses included:

• Independent‐samples t-tests and one‐way ANOVA to compare mean perception scores across demographic groups (age cohorts, gender, education, employment status, income brackets).
• Pearson correlation coefficients to assess relationships among perceived inflation, coping behaviors, welfare impacts, and confidence levels.
• Multiple linear regression models predicting welfare impacts from perceived price changes and coping strategies, controlling for demographic covariates.
• Chi‐square tests for associations between categorical coping‐strategy adoption (e.g., “always” vs. “never”) and demographic categories.

All tests were conducted at a 95% confidence level, with p-values < 0.05 deemed statistically significant. Effect sizes (Cohen’s d for t-tests, η² for ANOVA) were reported to gauge practical significance.

Validity and Reliability

Content validity was established through expert review and pilot testing. Construct validity was examined via exploratory factor analysis, which confirmed that multi‐item scales loaded onto their intended factors (eigenvalues > 1.0, factor loadings > 0.60). Internal consistency reliability was assessed using Cronbach’s α, with values ranging from 0.76 (welfare‐impact scale) to 0.88 (perceived‐inflation scale). Test–retest reliability was not feasible given the cross‐sectional design but was partially addressed by re‐administering two key items to a subsample of 15 respondents after three days (correlation coefficients > 0.80).

Limitations

While the online convenience sample enabled timely data collection, it may not fully represent non‐Internet users or populations with limited social‐media engagement. Self‐report measures introduce the risk of social‐desirability bias, and the cross‐sectional design precludes causal inferences. Nevertheless, the methodology provides robust descriptive and associative insights into inflation perceptions and their consequences among active digital‐platform users in Nigeria.

This methodological approach thus ensured systematic, reliable, and ethically sound data collection and analysis, laying a solid foundation for interpreting consumers’ inflation experiences in the subsequent chapters.

RESULTS AND DISCUSSION

This chapter presents the study’s empirical findings, reports the statistical tests of the stated hypotheses, and interprets the results in light of the research objectives and existing literature.

Data Presentation

A total of 163 valid responses were analysed. Table 4.1 summarizes the composite indices for perceived inflation, welfare impact, and coping strategies.

Table 4.1 Descriptive Statistics of Composite Scores

Consumers overall reported sharply rising prices (mean = 4.21 on a 1–5 scale). The welfare‐impact index (mean = 3.78) indicates substantial self‐reported declines in living standards, while moderate coping‐strategy use (mean = 2.87 on a 1–4 scale) suggests that many respondents had begun adapting behaviours but had not adopted extreme measures.

Demographic splits of mean perceived-inflation scores appear in Table 4.2.

Table 4.2 Mean Perceived Inflation by Gender

Age, education, and income group means exhibited similar patterns, with slightly higher perceived inflation among older and higher-income respondents, though differences were modest (Δ ≤ 0.20 on the 1–5 scale).

Data Analysis and Hypotheses Testing

Hypothesis 1 asserted no significant difference in perceived-inflation scores across demographic groups. Independent-samples t-tests and one-way ANOVAs were conducted:

Gender: A t-test yielded t(161) = 2.32, p = 0.022, indicating that female respondents reported significantly higher perceived inflation than males (4.35 vs. 4.17).

Age: One-way ANOVA across five age cohorts produced F(4,158) = 1.89, p = 0.113, suggesting no statistically significant age‐group differences.

Education: ANOVA across four education levels gave F(3,159) = 2.14, p = 0.098, marginally below conventional significance thresholds.

Employment status and income range likewise showed non‐significant variation (p > 0.10).

Because gender differences reached significance, H₀₁ was rejected in part. Demographic effects appear limited to gender, with another group means not differing significantly at α = 0.05.

Hypothesis 2 proposed no association between perceived inflation and coping-strategy adoption. Pearson correlation yielded r = 0.48, p < 0.001, indicating a moderate, positive relationship: higher perceived inflation corresponded with greater use of coping strategies. A chi-square test comparing “high adopters” (coping score > 3) versus “low adopters” by gender showed χ²(1) = 4.53, p = 0.033, revealing that females were more likely to report frequent coping actions. H₀₂ was therefore rejected.

Hypothesis 3 posited no correlation between perceived inflation and welfare impact or consumer confidence. Results showed:

Perceived Inflation vs. Welfare Impact: r = 0.65, p < 0.001

Perceived Inflation vs. Consumer Confidence: r = –0.52, p < 0.001

Consumers perceiving higher inflation also reported greater adverse welfare impacts (e.g., stress, reduced savings) and lower confidence in future price stability. These findings led to rejection of H₀₃.

A multiple regression model tested the joint predictive power of perceived inflation and coping score on welfare impact, controlling for gender:

Table 4.3 Regression Predicting Welfare Impact

Model fit: R² = 0.58, F(3,152) = 71.02, p < 0.001. Both perceived inflation (β = 0.62, p < 0.001) and coping‐strategy use (β = 0.28, p = 0.011) significantly predicted worse welfare impacts, whereas gender was non‐significant when controlling for these factors.

DISCUSSION OF FINDINGS

The analysis reveals three principal insights:

High Inflation Perceptions: Consumers uniformly perceived sharp price increases, with mean scores above 4.0. This aligns with official CPI reports >24 percent (Trading Economics, 2024) and underscores the salience of inflation in everyday life. The higher mean among female respondents suggests gendered vulnerability, likely reflecting women’s predominant role in household procurement (CBN, 2017).

Linkages to Coping and Welfare Impact: The positive correlation between perceived inflation and coping behaviours (r = 0.48) confirms that as consumers recognize price pressures, they adapt through rationing, brand-switching, and other strategies (Okafor, 2023). However, coping measures only partially mitigate welfare declines; regression results show that perceived inflation explains the bulk of variance in welfare impact (β = 0.62), with coping behaviours contributing a smaller but significant effect (β = 0.28). These findings echo Ijeoma’s (2023) documentation of persistent financial stress despite behavioural adjustments.

Consumer Confidence Erosion: The negative correlation between perceived inflation and confidence (r = –0.52) illustrates that rising prices undermine expectations of stability, potentially dampening future consumption. Such sentiment dynamics have implications for aggregate demand and monetary policy transmission (Aberu, 2023).

Demographic Moderation

With gender emerging as the only significant demographic factor in inflation perceptions and coping adoption, the study highlights the need for gender-sensitive policy responses. Other demographics (age, education, employment, income) showed non-significant or marginal effects, suggesting that inflation’s reach is broadly felt across groups—a finding consistent with Siyan et al.’s (2016) assertion of inflation as a universal poverty

Policy Implications

The strong linkage between perceptions and welfare outcomes underscores the urgency of stabilization measures. Targeted cash transfers and subsidies for food and energy could alleviate the most acute welfare losses. Gender-focused support—such as women’s microcredit programs—may enhance coping capacities and buffer households.

Limitations and Further Research

While the online survey captured real-time perceptions, it may underrepresent populations with limited Internet access. Future work could triangulate these findings with in-person interviews in rural communities. Moreover, longitudinal tracking would illuminate how perceptions and coping evolve as inflationary episodes unfold.

In sum, the results validate the conceptual framework: perceived inflation drives coping behaviors and shapes welfare impacts, with consumer confidence serving as both a consequence and a predictive indicator. These insights furnish policymakers, businesses, and researchers with nuanced, micro-level evidence to inform interventions and deepen understanding of inflation’s human dimension.

CONCLUSION AND RECOMMENDATIONS

Conclusion

This research examined Nigerian consumers’ perceptions of inflation and its welfare implications using an online survey. Composite indices revealed that respondents perceived sharply rising prices (mean = 4.21 on a 1–5 scale), reported substantial declines in living standards (mean welfare‐impact = 3.78), and engaged in moderate coping behaviours (mean coping‐score = 2.87 on a 1–4 scale).

Statistical analyses demonstrated that gender was the sole demographic dimension exhibiting significant differences in inflation perceptions, with women reporting higher perceived price increases and more frequent coping strategies than men. Age, education, employment status, and income groups showed no statistically significant variation, indicating broad exposure to inflation across society.

Correlation and regression results confirmed that higher perceived inflation strongly predicts adverse welfare outcomes (β = 0.62, p < 0.001) and is moderately associated with increased coping actions (r = 0.48, p < 0.001). Consumer confidence bore a negative relationship with perceived inflation (r = –0.52, p < 0.001), suggesting that inflationary pressures erode expectations for price stability and dampen future consumption intentions.

These findings validate the conceptual framework in which perceived inflation functions as the principal driver of both behavioural adaptations and self-reported welfare impacts. Coping strategies provide partial mitigation but do not fully counteract the financial stress and declines in living standards associated with sustained price increases. The significant gender disparity underscores the importance of incorporating gender considerations into inflation-relief policies and support programs.

Recommendations

Drawing on the empirical evidence, the following recommendations are offered to strengthen social-safety mechanisms, enhance consumer resilience, and guide future research.

• Implement Targeted Cash-Transfer Programs: Relevant Government agencies such as the National Social Investment programme (NSIP) should expand means-tested cash transfers to low- and middle-income households, prioritizing regions and demographic groups demonstrating the greatest welfare impacts. Digital distribution via mobile money or electronic wallets can ensure timely assistance and minimize administrative overhead.
• Subsidize Essential Food and Energy Items: Temporary subsidies on staple foods such as rice and maize and household energy can alleviate acute financial stress. Partnerships with state governments to deliver subsidized commodity vouchers through community centres or digital platforms will mitigate shortages and limit market distortions.
• Develop Gender-Sensitive Support Initiatives: Women’s economic empowerment programs – such as microcredit schemes tailored to female entrepreneurs – should incorporate inflation-adjusted loan terms. Financial-literacy workshops can equip women with adaptive budgeting and investment strategies under volatile price conditions.
• Enhance Real-Time Consumer Sentiment Monitoring: Central Bank and National Bureau of Statistics ought to institutionalize regular online pulse surveys using social-media and mobile platforms. High-frequency tracking of perceived inflation and coping behaviours will inform timely policy interventions and gauge the effectiveness of stabilization measures.
• Encourage Private-Sector Price-Stabilization Efforts: Consumer-goods firms should adopt transparent pricing communication and flexible package sizing (e.g., value packs) to maintain affordability. Retailer-led loyalty programs or installment payment options can buffer households against sudden price spikes.
• Strengthen Financial-Sector Inclusion: Banks and fintech companies must expand access to inflation-hedging instruments – such as inflation-indexed savings accounts or short-term Treasury bills – particularly for digitally connected consumers. Tailored product design can help households preserve real wealth during high-inflation episodes.
• Incorporate Inflation Considerations into Social Protection Policies: Pension schemes and wage-adjustment frameworks should integrate automatic inflation indexation clauses. Public-sector labour agreements and minimum-wage regulations need to reflect current price dynamics to safeguard real incomes.
• Advance Longitudinal and Mixed-Methods Research: Academic institutions should pursue follow-up panel surveys to capture the evolution of perceptions and coping mechanisms over time. Qualitative interviews and focus groups will deepen understanding of underlying decision-making processes and contextual factors.

REFERENCE

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Appendix:

Online Filled Questionnaire Link:

https://docs.google.com/spreadsheets/d/1Ba8hqOOYwagn3CbYlzJ3p0hlOwFxCCa3hSP5tD8zXbg/edit?usp=sharing