INFLATION

Inflation in Nigeria has led to the obvious devaluation of the naira and this has grossly reduced the value of fixed-income earners, of which, the teachers are the worst hit. Inflation is anti-worker’s economic growth and prosperity because it allows for arbitrary increases in 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 (Giami, 2023). According to Ogunode et al. (2024a) during inflation, managers of schools due to a shortage of funds available to schools decide to reduce procurement of all needed educational resources and only purchase a few as a result inflation increases the operational cost of the schools. This decision of not buying the required and adequate teaching and learning resources affects the quality of education because education can be likened to a system in that all resources must be provided with the right qualities and deployed. The failure to do this will affect the quality of education. The cost of living of teachers is affected by inflation because teachers who have access to little money at hand are constrained in terms of their movement to school and attendance in the classroom. When teachers miss class and cannot teach the entire period as planned in the scheme and syllable as a result of inflation; the missed classes and lessons will imply students resulting in poor quality of education because students do not learn what they are supposed to learn at the right time. During inflation many poor parents cannot afford to transport their wards to schools regularly and some wards do not eat well in their rooms due to the high prices of foodstuff in the market. The poor feeding of the children at home leads to malnutrition and poor class attendance.