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Title: | Impact of Inflation on Work Performance |
Author(s): | Ezek Martins U. |
Year | 2024 |
Publisher: | RESEARCH INVENTION JOURNAL OF CURRENT RESEARCH IN HUMANITIES AND SOCIAL SCIENCES |
URI: | https://publications.kiu.ac.ug/publication-page.php?i=impact-of-inflation-on-work-performance |
File: | ![]() |
Keywords: |
Inflation is an increase in general level of goods and services over a given period, resulting to a fall in the
purchasing capacity of the fixed wages and income earners. The trade-off between inflation and performance is
that, the increase in the prices of commodities reduces consumer‘s marginal propensity to save, which adversely
affect the peoples’ standard of living. Inflation in Nigeria, has led to the obvious devaluation of the naira and this
has grossly reduced the value of fixed income earners. Inflation is anti-workers’ economic growth and prosperity
because it allows for arbitrary increase of prices of goods and services to the detriment of workers’ fixed income
even when it is glaring that their purchasing power is being reduced persistently and that eventually erodes their
propensity to save. In other words, the purchasing power of a given amount of money will be smaller over time
when there is inflation in the economy. Inflation at this instance can therefore be described as a cankerworm that
eat up the income of fixed earners and as such affects drastically the standard of living of citizens. This, oftentimes
brings about frustration and anger due to the inability to attend to family needs and cope with the high cost of
transportation to work, buying of food items to feed, paying of electricity or medical bills, renewing of house rent
and other issues of utmost importance among others. This paper therefore appraised the impact of inflation on
workers performance.
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