Inflation and Integrational Socio-Economic Mobility in Rivers State
Inflation and Integrational Socio-Economic Mobility in Rivers State

Summary/Abstract: Intergenerational socio-economic mobility (ISM) and persistence (ISP) are serious concerns because they have implications for poverty and inequality. A society is intergenerationally mobile when people can grow from their lower socio-economic class of birth to higher socio-economic levels, often due to hard work, education and good health among others. This work examined the effects of inflation on intergenerational socio-economic mobility in Rivers State, Nigeria. The study found that inflation reduces the real value of money, lowers the ability to fund education, commute to desired locations, feed, provide health and thus, affects the ability to progress to better socio economic strata. Inflation in Rivers State promotes intergenerational persistence as children of the rich and people in power continue to hold unto such head starts while those from low-income households remain poor as their efforts are thwarted by debilitating inflation. From the study, to be classified as middle income (moderately poor) in 2024, a household of six need to spend between N680,000 and N1.5million monthly. Those who spend above this may be classified as non-poor. Thus, the middle class is becoming smaller. Government should work with experts to create policies that will enhance social mobility. These may include targeted pro-poor programmes, human capital building and increased social infrastructure among others.

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