In high-inflation economies, consumers are constantly adjusting their internal reference prices. This dynamic poses challenges for businesses seeking to balance profitability and consumer trust. This chapter looks into the effect of pricing strategies on consumer behavior in such environments. Drawing upon consumer psychology literature, it examines how frequent price fluctuations influence perceptions of value, fairness, and trust. The chapter also examines the role of anchoring effects in inflationary environments, where both numerical cues (e.g., initial prices) and non-numerical cues (e.g., product presentation or store atmosphere) can significantly influence consumer behavior. Cultural norms, economic expectations, and public discourse also contribute to how consumers interpret price changes, shaping their perceptions of fairness. Social narratives around inflation further influence pricing decisions, compelling businesses to adopt transparent and adaptive approaches. By integrating both psychological and societal perspectives, this chapter provides a comprehensive understanding of how businesses can develop responsible and effective pricing strategies. In doing so, firms can foster sustainable growth, consumer loyalty, and long-term brand equity, even in the face of economic volatility.