Main Article Content
The absence of price control in Nigerian and the attitude of retailers have resulted in the inflation rates not showing any specific pattern. Consumers have relied on day to day price fixation by retailers who may at any point in time decide what price items are sold in the market. This has in turn caused differences in inflation rates in the regions of the country. The national government pays little or no attention since its main interest is concentrated on the national inflation rate. National Bureau of Statistics through its prices division collects prices data which is used to produce state price indices. In a bid to investigate the reasons for the fluctuations in the inflation rates, the state index series available at the National Bureau of Statistics are used to compute state inflation rates for all the states. The already existing regional structure of the country was used to compute average inflation rates of states under each region which was used to generate a multiple regression model of inflation rates for the regions which revealed that North West and South east have minimum contributions to the rising inflation rates in Nigeria. Notwithstanding the above result, the study was able to discover that the North dominate in contributing to the rise in inflation rates in Nigeria. Hypothesis tested using Analysis of variance however concluded that there is no significant difference in the means of inflation rates of the regions during the period under study.
Biyi Afonja. Introductory Statistics: A Learner’s Motivated Approach; 1975.
Brown Peter Robert Lamont. The world of late Antiquity; 1971.
Bruce EW, Clifford J. Drew. Theory and Application of Statistics; 1990.
Consumer Price Index Manual, Theory and Practice with support of ILO; 2004.
Federal Reserve Bank of New York: Open market operation.
Francis O, Francois M, SolomonY. & Elikem K. An Econometric Model for Inflation Rates in the Volta Region of Ghana. IOSR Journal of Economics and Finance (IOSR-JEF) e-ISSN: 2321-5933, -ISSN: 2321-5925. 2015;6(6). Ver. II:48-55.
Retrieved from http://www.iosrjournals.org
Jude IE, Micah EO, Edith NE. Statistics and Quantitative Methods for Construction and Business Managers. The Nigerian Institute of Building; 2005.
Kenneth W. Harl: Coinage in the Roman economy.
Moris Hamburg: Statistical analysis for decision making.
Michael F. Bryan: Origin and evolution of the word inflation.
Nwaboku OF. Methodology of CPI in Nigeria; 2014.
Oyeka CA. Applied Statistical Methods; 1996.
Potter David Stone. The Roman Empire at Bay, AD, Routledge history of the ancient world. 2004;180-395.
William F. Hummel: Operation market operations.
Afonja B. Introductory statistics : A learner's motivated approach. Ibadan, Nigeria: Evans Brothers (Nigeria Publishers); 1975.
Brown PR. The world of late antiquity. New York: Harcourt, Brace, Jovanovich; 1971.
Organization IL. Consumer price index manual. Theory and Practice. Geneva: International Labour Organization (ILO); 2004.
Wampold BE. Theory and application of statistics. New York: McGraw-Hill. (1990).
Michael MiCracken. Monetary Policy and Regional Inflation Rates; 2018.
Sani Bawa, Ismaila S. Abdullahi, Adamu Ibrahim. Analysis of Inflation Dynamics in Nigeria. 2016; 1981 – 2015.
Swiss Bank: Monetary policy instruments (situation in; 2009)
Friedman M. Inflation: Causes and consequence (New York: Asia Publishing House); 1963.
Moser GG. The main determinants of inflation in Nigeria. Staff Papers. 1995;42(2).
Fakiyesi OM. Further empirical analysis of inflation in Nigeria. Central Bank of Nigeria (CBN) Economic and Financial Review. 1996;489-500.
Kuijs L. Determinants of inflation, exchange rate, and output in Nigeria. International Monetary Fund Working Paper WP/98/160; 1998.
Qayyum A. Money, inflation, and growth in Pakistan. The Pakistan Development Review. 2006;203–212.
Wolde-Rufael Y. Budget deficits, money and inflation: The case of Ethiopia. The Journal of Developing Areas. 2008;42(1):183–199.
Ratnasiri H. The main determinants of inflation in Sri Lanka: A VAR based analysis. Central Bank of Sri Lanka Staff Studies. 2009;39:1-2.
Bashir, et al. Determinants of inflation in Pakistan: An econometric analysis using johansen co-integration approach. Australian Journal of business and management Research, 2011;1(5):71–82.
Kabundi A. Dynamics of inflation in Uganda. ADB Working Paper Series No. 152 African Development Bank, Tunis, Tunisia; 2012.
Butt MS. A Monetarist approach to inflation for Pakistan. Pakistan Economic and Social Review. 1988;XXVI(2):69–87.
Chaudhary MA. Sources and impact of inflation in Pakistan. Pakistan Economic and Social Review. 1996;XXXIV(1):21–39.
Mordi, et al. The dynamics of inflation in Nigeria. CBN Occasional Paper. 2007;32.
Masha I. New perspectives on inflation in Nigeria. CBN Economic and Financial Review. 2000;38(2) .
Adenekan AA. Inflation dynamics in a developing economy: An error correction approach. African Review of Money Finance and Banking. 2004;77-99.
Odusanya IA. Analysis of inflation and its determinants in Nigeria. MPRA; 2010.
Imimole B, Enoma A. Exchange rate depreciation and inflation in Nigeria (1986–2008). Business and Economics Journal; 2011.
Sargent T. Inflation: Causes and effects. national bureau of economic research, Inc. 1982;41-98.