"Causes Of Inflation In Nigeria" Essays and Research Papers

  • Causes Of Inflation In Nigeria

    Buy Made In Nigeria Goods, Nigerians Urged This article talks about Nigeria’s youth unemployment resulting to a loss in tax revenue, a decrease GDP, a decrease in consumption expenditure, a decrease in government spending due to a change in the economic or political priorities and a decrease in the domestic output which in turn affects the Aggregate demand (AD). AD is the total quantity of goods and services that all buyers in an economy want to buy over a period of time, at different possible...

    Economics, Inflation, Keynesian economics 782  Words | 3  Pages

  • Modelling the Inflation Process in Nigeria

    MODELLING THE INFLATION PROCESS IN NIGERIA 2. Nigeria’s inflation experience Nigeria has experienced all manner of inflationary episodes – from creeping to moderate and from high to galloping (see Table 1 and Figure 1). Average inflation during the period 1960–1972 was relatively low, the historical average rate being 5.01%. When assessed on an annual basis, however, rising prices became a cause for concern for the then military government when in 1969 the inflation rate hit double digits...

    Bretton Woods system, Central bank, Currency 962  Words | 3  Pages

  • Exchange Rate Variation and Inflation in Nigeria

    MASTER DEGREE PROJECT EXCHANGE RATE VARIATION AND INFLATION IN NIGERIA (1970- 2007) Master Degree Project in Economics and Finance D-Leval 15 ECTS Spring term Year 2008 Onosewalu Okhiria 761130-P319 Taofeek Sesan Saliu 761130-P719 Supervisor: Bernd-Joachim Schuller(PhD) Examiner: Max Zamanian (PhD) ABSTRACT This study examines the impact of exchange rate on inflation in Nigeria economy between 1970 and 2007. We analysed the trend of inflation and exchange rate in the last 38 years by evaluating...

    Bretton Woods system, Central bank, Exchange rate 2193  Words | 7  Pages

  • Causes of Inflation

    CAUSES OF INFLATION Inflation is caused when the aggregate demand exceeds the aggregate supply of goods and services. We analyze the factors which lead to increase in demand and the shortage of supply. Factors Affecting Demand Both Keynesians and monetarists believe that inflation is caused by increase in the aggregate demand. They point towards the following factors which raise it. 1. Increase in Money Supply. Inflation is caused by an increase in the supply of money which leads to increase...

    Central bank, Economics, Inflation 1403  Words | 4  Pages

  • Effect of Inflation on the Delivery of Construction Project in Nigeria

    AN APPARAISAL OF THE EFFECT OF INFLATION ON THE DELIVERY OF CONSTRUCTION PROJECT IN NIGERIA. SUMMITED BY SANUSI, AZEEZ OLUWAWEMIMO HND II QUANTITY SURVEYING REG: 093052006 A PROJECT REPORT TO DEPARTMENT OF QUANTITY SURVEYING, SCHOOL OF ENVIROMENTAL STUDIES, LAGOS STATE POLYTECHNIC IKORODU CAMPUS IN PARTIAL FULFILLMENT FOR THE AWARD OF HIGHER NATIONAL DIPLOMA IN DEPARTMENT OF QUANTITY SURVEYING 2.10 INTRODUCTION Inflation has been in existence in the construction industry...

    Building, Building code, Construction 939  Words | 4  Pages

  • meaning and causes of inflation

    CHAPTER 2 MEANING AND CAUSES OF INFLATION Inflation is considered a global phenomenon. It takes place because of rapidly rising prices of goods and services, resulting in the decline of the value of money. Definitions of Inflation: According to Prof. Crowther, Inflation is a state in which the value of money is falling and prices are rising. According to Prof. Kemmerer, Inflation means too much currency in comparison to the physical volume of business done. Keynes stated that the rise...

    Causality, Consumer spending, Consumption 523  Words | 4  Pages

  • The Cause and Effects of Inflation

    The Cause and Effects of Inflation Chris Hinman Most people are aware that inflation is a continuing rise in the general level of prices, but it is also important to know the causes and effects of inflation as well. It is also important to understand that inflation is self-sustaining and can act as a snowball effect. Consumers expecting a rise in prices may increase spending, causing the market prices to rise. In the periods of higher prices, producers may be more inclined to increase wages...

    Central bank, Excess reserves, Federal Reserve System 896  Words | 3  Pages

  • Causes of Inflation and Deflation

    THE AID OF DIAGRAMS, ILLUSTRATE THE CAUSES OF INFLATION AND DEFLATION, AND BY COMPARING THEIR ECONOMIC EFFECTS CONSIDER HOW BOTH CAN AFFECT THE CORPORATE SECTOR. The essay will describe causes of inflation and deflation and explain how they can affect the corporate sector. 1. INTRODUCTION DEFINITION OF INFLATION AND DEFLATION Inflation is a process in which the price level is rising and money is losing value. (Parkin, Powell, Matthews p654) Inflation tends to rise when at the current price...

    Aggregate demand, Built-in inflation, Cost-push inflation 2181  Words | 7  Pages

  • MEASUREMENT,CAUSES AND CONSEQUENCES OF INFLATION

    Inflation : measurement , causes and consequences Measuring Inflation The main measure of inflation is the consumer prices index (CPI) : a measure of changes in the price representative basket of consumer goods and services . Differs from retail prices index (RPI) in methodology and coverage. - It forms the basis for the inflation target that the government requires the Bank of England's Monetary Policy Committee to achieve. - It is also the main measure used in the rest of the European...

    Consumer price index, Cost, Cost-push inflation 1505  Words | 6  Pages

  • Inflation, Causes and Solutions

    INFLATION : A sustained rise in the prices of commodities that leads to a fall in the purchasing power of a nation is called inflation. Although inflation is part of the normal economic phenomena of any country, any increase in inflation above a predetermined level is a cause of concern. How is inflation measured Inflation in India is measured through a WPI ( wholesale price index ) . In India, the wholesale price index (WPI), rate consisted of three main components - primary articles, which...

    Economics, Gross domestic product, Inflation 1365  Words | 5  Pages

  • Inflation in India- Causes and Options

    INFLATION-CAUSES & OPTIONS Rising inflation is one of the biggest stories of recent weeks and has received a great deal of attention from the media and political parties. At the same time inflation is an economic problem that the average person meets on a daily basis in terms of higher prices particularly of food products. It is sustained rise in the general level of prices of goods and services over a certain period. In simple words it means too much money chasing too few goods. Recent data...

    Built-in inflation, Consumer price index, Cost-push inflation 1016  Words | 3  Pages

  • What Are Causes of Inflation in China and How to Cope with Inflation?

    What are causes of inflation in China and how to cope with inflation? In the past decades, China has experienced a rapid economic growth. However, Chinese people have been greatly affected by the inflation caused by such rapid economic development. Compared with other years in 2000s, the inflation rate in 2004, 2007, 2008 and 2010 were quite higher which more than 3 percent (Zhang, 2011). And in 2007 only, the Consumer Price Index (CPI) increased by nearly 5% from 2.2% to over 7% (Anderson, 2008)...

    Central bank, Consumer price index, Economics 1269  Words | 4  Pages

  • causes of religious crises in nigeria

    Religious Crises in the North: Which Way Out of this Quagmire? By Aliyu A. Ammani aaammani@yahoo.co.uk This essay is an attempt at identifying the remote and immediate causes of the incessant religious crises in northern towns and cities, if you’d rather the so-called middle belt political zone of the north. In expressing this view, there is no intention on my part to mock the bones of those who died so long ago and who tried, however ineffectually, to lead their people. ...

    Caliphate, Christianity, Hausa people 1156  Words | 4  Pages

  • Inflation

    Instructor: Leo Dela Pasion Macro Paper Topic: Inflation What is inflation? Inflation is sustained increase in price level over time (Farnham). There three types of inflation. Inflation at very fast rate is Hyper-Inflation, medium is Strato-Inflation and low lever is Creeping inflation. Current U.S. inflation rate is 1.5%. In this paper I will discuss causes of inflation, effects of inflation to the economy, and how to control inflation. Causes of inflation Spending Spending by individual, business...

    Central bank, Currency, Federal Reserve System 1473  Words | 5  Pages

  • The Inflation

    First of all, when we speak about inflation, we should make clear what is the exact defination of it. Inflation is one of the most important economic concepts. At its most basic level, inflation is simply a rise in prices. Over time, as the cost of goods and services increases, the value of for example of a dollar is going to go down because you won’t be able to purchase as much with that dollar as you could have last month or last year. When the purchasing power of a currency starts to decline...

    Consumer price index, Economics, Inflation 959  Words | 3  Pages

  • inflation

     The cost of inflation depends on two cases; perfectly anticipated inflation and unanticipated inflation. Anticipated inflation is defined when individuals are able to make accurate predictions of inflation, they can take steps to protect themselves from its effects. Also, trade unions might use their bargaining power to negotiate for increases in money wages to protect the real wages of union members. Households may want to switch savings into accounts offering a higher rate of interest or into...

    Hyperinflation, Inflation, Inflation rate 774  Words | 3  Pages

  • Inflation

    INFLATION - ITS CAUSES and ITS EFFECTS ON VARIOUS SECTORS ON INDIA - September 2nd, 2010 WHAT IS INFLATION Defination:  Inflation is defined as the rate at which the general level of prices for goods and services is rising and subsequently purchasing power is falling Measures of Inflation Inflation is measured by calculating the percentage rate of change of a price index, which is called the inflation rate.  Consumer price indices Cost of living indices Producer price indices ...

    Austrian School, Commodity price index, Consumer price index 526  Words | 3  Pages

  • inflation

    InflationInflation is the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.” Central banks endeavour to put an end to grave inflation, along with drastic deflation, striving to keep the extravagant growth of prices at the lowest level. For example, if there is 5% inflation in a specific country and the price of sugar is usually £3, it will spontaneously escalate from £3 to £3.15. Every government’s tries to keep a low...

    Aggregate demand, Economics, Inflation 1054  Words | 3  Pages

  • Inflation

    INFLATION It can be stated that Inflation is the rise in prices of products as a result of the increase in the quantity of money. This definition however would be inefficient since for two reasons; 1. If we simply term inflation to be a rise in prices of certain products then we will be mistaken because prices might be rising in one sector of the economy yet falling in another sector. 2. We have to take into account that the process may be high this month but generally fall the following month...

    Cost, Economics, Inflation 1426  Words | 4  Pages

  • Inflation

    INFLATION The government control measures, all over the world, keep business cycles under control. What has gone nearly uncontrolled over the time is the problem of almost continuous increase in the general price level (this is the problem of inflation). The problem of inflation got accentuated since the early 1970s. It emerged as the most intractable economic problem for both theoreticians and policy-makeovers all over the world. Inflation has been a common problem of the developed and the developing...

    Central bank, Economics, Fractional-reserve banking 1754  Words | 5  Pages

  • inflation

    INFLATION: Inflation is a sustained increase in the general price level leading to a fall in the purchasing power of money. Inflationary pressures can come from domestic and external sources and from both the supply and demand side of the economy. FACTORS OF INFLATION: Inflation is defined as the rate (%) at which the general price level of goods and services is rising, causing purchasing power to fall. This is different from a rise and fall in the price of a particular good or service...

    Aggregate demand, Built-in inflation, Cost-push inflation 2058  Words | 7  Pages

  • Inflation

    Latest news Inflation remains a serious concern in India with the Consumer Price Index (CPI)-based inflation rising for the fifth consecutive month in February. At 10.9% from a year ago, consumer price inflation in India is the second highest among major economies—we still have some way to go before we can challenge Venezuela. Prices in the food, beverages and tobacco segment went up 13.4% from a year ago, a 33-month high. Vegetable prices have shot up 21% year-on-year. Core CPI inflation (ex-food...

    Central bank, Consumer price index, Inflation 1307  Words | 5  Pages

  • Inflation

    Major Cause of Inequality.“The origin of inflation is often found in the panicky nervousness of unstable governments in politically unstable communities. Given political stability there is no reason why India should not be able to carry out her future plans without generating serious inflationary pressure on the price level.” Keeping 1960-61 as the base year, the Fourth five year plan save the price index at an all time high of 331 in September 1974 (with 1961-62-100). This was due to a combination...

    Economics, Income, Inflation 1024  Words | 3  Pages

  • Inflation

     Objectives: How is inflation measured The calculation and limitations of these indices The effects of inflation Important points to remember: Consumer Price Index (CPI) - A measure of price changes in consumer goods and services such as gasoline, food, clothing and automobiles. The CPI measures price change from the perspective of the purchaser. GDP Deflator- measures price changes in current year compared to those in a base year, for all goods and services produced within the country...

    Consumer price index, Final goods, GDP deflator 1741  Words | 5  Pages

  • Inflation and Govt Expenditure

    CHAPTER ONE INTRODUCTION 1.1 Background of the Study Persistent public expenditure and inflation have become major concerns in both developed and developing countries. Extensive theoretical and empirical literatures have been developed to examine the relationship between Public expenditure and macroeconomic variables. The monetarists share the view that fiscal deficits are harmful to an economy. While some of the increases in the public expenditure have been associated with declining tax...

    Economic growth, Economics, Inflation 2255  Words | 7  Pages

  • Relationship Between Short-Term Unemployment and Inflation? What Cause Inflation?

    Relationship between Short-term Unemployment and Inflation? What cause inflation? Inflation refers to a rise in prices that causes the purchasing power of a nation to fall. Inflation is a normal economic development as long as the annual percentage remains low; once the percentage rises over a pre-determined level, it is considered an inflation crisis. There are many causes for inflation, depending on a number of factors. For example, inflation can happen when governments print an excess of money...

    Economics, Inflation, Keynesian economics 1304  Words | 4  Pages

  • Nigeria

    Malnutrition in Nigeria Malnutrition in Nigeria is a long standing problem which has persisted since the 1960s and whose magnitude is on the rise. Food consumption, both in quality and quantity, has decreased substantially, especially with the commencement of the structural adjustment program (SAP) in 1986. Available studies have indicated that the introduction of economic reforms more than anything else has contributed to reduced food intake and the near collapse of nutrition oriented health...

    2007–2008 world food price crisis, Eating, Famine 1265  Words | 4  Pages

  • south africa vs nigeria

    INTRODUCTION The 2008 economic crisis affected African nations in the developing world in a very similar way. Nigeria suffered a fall in oil prices , reduction in exports and a downward trend in the stock market whilst South Africa suffered the same effects but rather than crude oil they suffered in the fall of commodity prices. Policies to stimulate the economy are different in terms of trade where Nigeria is more free trade and South Africa became more protectionist after the crisis. The Nigerian economy...

    Free trade, Inflation, International economics 1665  Words | 5  Pages

  • Budget Deficit and Inflation in Nigeria

    Trends in jetems.scholarlinkresearch.org Economics and Management Sciences (JETEMS) 2(1):1-8 (ISSN:2141-7024) Budget Deficit and Inflation in Nigeria: A Causal Relationship 1 1 S. O. Oladipo and 2T. O. Akinbobola Department of Economics and Accounting, Bells University of Technology, Ota, Nigeria 2 Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria Corresponding Author: T. O. Akinbobola ____________________________________________________________ ______________________________...

    Central bank, Economics, Inflation 5680  Words | 19  Pages

  • Inflation

    Inflation - AS Economics Inflation is a sustained increase in the general price level. Disinflation is a fall in the rate of increase in the general price level. Deflation is a sustained decrease in the general price level. Cost-push inflation occurs when costs of production increase across the economy, resulting in a decrease in short run aggregate supply, which pushes up the price level. This can occur due to changes in unit labour costs (such as wages and productivity), prices of factors ...

    Consumer price index, Currency, Economics 1081  Words | 3  Pages

  • Nigeria

    http://peoplesdailyng.com/changing-nigerians-identity-diaspora/ http://olorisupergal.com/nigeria-rich-country-poor-people-by-gbenga-ogunbiyi/#.UpH2I9Lik8o Nigeria is a member of both the Commonwealth of Nations, and the African Union. LANGUAGE There are hundreds of languages spoken in Nigeria. The official language of Nigeria,English The languages spoken in Nigeria are said to be 521. The official language is English while the major ones that are spoken are Hausa, Igbo, Yoruba...

    Africa, Atlantic slave trade, Chimamanda Ngozi Adichie 1269  Words | 5  Pages

  • Causes of Inflation

    called inflation. Although inflation is part of the normal economic phenomena of any country, any increase in inflation above a predetermined level is a cause of concern. High levels of inflation distort economic performance, making it mandatory to identify the causing factors. Several internal and external factors, such as the printing of more money by the government, a rise in production and labor costs, high lending levels, a drop in the exchange rate, increased taxes or wars, can cause inflation...

    Central bank, Economics, Fractional-reserve banking 438  Words | 2  Pages

  • Nigeria

    NIGERIA The Federal Republic of Nigeria comprises thirty six states and its Federal Capital Territory is Abuja. Nigeria is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast in the south lies on the Gulf of Guinea on the Atlantic Ocean. The Flag The flag of Nigeria consists of three equal sized vertical stripes - the right and left stripe are green; and the middle stripe is white. The Nigerian...

    English language, Goodluck Jonathan, Local Government Areas of Nigeria 1173  Words | 5  Pages

  • Cultural Relativity: the Root Cause of Conflict in Nigeria

    CULTURAL RELATIVITY: THE ROOT OF CAUSE CONFLICT IN NIGERIA Nigeria is a multicultural nation with over 250 ethnic groups. Human beings are product of culture. Culture has made people what they are. Culture is the totality of experience of people in a given environment. Culture is complex whole of the people- this complex whole includes the beliefs, habits, modes and attitude of people. Culture is the result of interaction of people in a particular environment and the interpretation of their experiences...

    Anthropology, Cultural anthropology, Cultural relativism 1428  Words | 4  Pages

  • Petrol Subsidies in Nigeria

    ECON1101 Essay: Petrol subsidies in Nigeria Nigeria, an oil-abundant nation, produces two million of barrels of crude oil a day, though despite this, it relies solely on importation to sustain its refined-fuel needs. This is because its four refineries fail to function effectively and continue to operate beneath capacity. Governmental mismanagement and political corruption are some of the reasons why Nigeria’s refineries remain in this state. The Nigerian government therefore implemented subsidies...

    Mixed economy, Subsidy, Supply and demand 1557  Words | 5  Pages

  • Causes, Effects and Solution to Boko-Haram and Kidnapping in Nigeria

    contain it? As far back as eight to nine years ago, we observed that the institution of the Nigerian army became a target of the intelligentsia behind what we called Boko Haram. They have known that the Nigerian army was the last institution in Nigeria that could practically bind the country. But now, the army seems divided. What I know is that the Nigerian army cannot handle this people because the sophistication with which the sect operates is beyond the training of the Nigerian army. You...

    Borno State, Kano, Maiduguri 1958  Words | 6  Pages

  • Inflation

    Inflation affects the real economy in two specific areas: it can harm economic efficiency, and it can affect total output. We begin with the efficiency impacts:- Inflation impairs economic efficiency because it distorts prices and price signals. In a low inflation economy, if the market price of a good rises, both buyers and sellers know that there has been an actual change in supply and/or demand conditions for that good, and they can react appropriately. By contrast in a high inflation economy...

    Central bank, Federal Reserve System, Fractional-reserve banking 1069  Words | 3  Pages

  • Nigeria

    Located in West Africa and bordering the Atlantic, Nigeria is a big country that occupies 356,667 square miles with a total population of 168 million. Nigeria is abundant in natural resources like coal, gold, lead, iron, salt, copper, and zinc, but it is best known as a big producer of oil. Thanks to its size, population, and resources, Nigeria is dubbed as “the giant of Africa” (Falola, 4). According to World Bank Data of 2010, Nigeria has an annual percentage growth rate as 8.0%, one of the world’s...

    African slave trade, Atlantic slave trade, British Empire 1763  Words | 6  Pages

  • Causes of Conflict in Nigeria and Ways of Resolving Them

    as Nigeria, divisions among the ethnic groups, regions and sections of the country is bound to exist. In pre-colonial times, interethnic relations were often mistrustful, or discriminatory, and sometimes violent. At the same time, there were relationships, such as trade, that required peaceful communications. The most widespread communication was in the north between pastoral and agricultural peoples who traded cattle for farm products, and pasturage rights for manuring. CONFLICTS IN NIGERIA: CAUSES ...

    Controversies, Dispute resolution, Ethnic conflict 994  Words | 3  Pages

  • Nigeria

    Nigeria Essay: Oil Theft in Nigeria One may argue that Nigeria’s GDP comes solely from its natural resources, namely crude oil. It is a rentier state that allows foreign multi-national corporations to allocate its oil resources while charging these foreign multi-national corporations for money. Recent reports have indicated that Nigeria has arrested two Britons and 10 Nigerian citizens for trying to bribe military officers to facilitate oil theft. This is a huge issue because it means that these...

    Crime, Nigeria, OPEC 982  Words | 5  Pages

  • Youth Unemployment in Nigeria

    Youth Unemployment in Nigeria INTRODUCTION Nigeria is the most populous country in Africa and the eighth most populous country in the world with a population of 154, 729,000 citizens. Our nominal GDP is $207. 116 billion and we have a nominal per capita income of $1, 4011. Nigeria also has the second largest economy in Africa. If I may ask, is this country not blessed? Yet, it is still plagued by youth unemployment which had been one of our major problems in recent years. Both government and...

    Crime, Economics, Economy 1213  Words | 4  Pages

  • Impact of Monetary Policy on Inflation in Nigeria

    THE IMPACT OF MONETARY POLICY ON INFLATION IN NIGERIA PREAMBLE The major problem pervading the face of the world after the Second World War was the problem of inflation. High level of inflation is a deadly disease that should not be allowed economy because it renders business ineffective and causes lay-off of some workers and also underpins ineffectiveness in economic activities. Before the problem of inflation occurred after the Second World War as noticed by John Maynard Keynes, unemployment...

    Central bank, Economics, Inflation 8904  Words | 24  Pages

  • Challenges of Foreign Banks in Nigeria

    presence. However, a number of these banks tends to vary from time to time and from region to region. The analysis of the research has brought out the challenges being faced by foreign banks in Nigeria. Corruption and irregular government policies seem to be the major problem. In emerging economies like Nigeria, the government plays an active role as they are known to be the highest spenders. Over the years, various government policies have affected the operation of the banks. There is need for consistency...

    Bank, Economics, Economy 1696  Words | 6  Pages

  • Inflation in Pakistan

    Inflation in Pakistan. Its Types, causes, measures and effects WHAT IS INFLATION? DISCUSS ITS TYPES, CAUSES, MEASURES AND EFFECTS. Introduction: Collective increase in the supply of money, in money incomes, or in prices refers to inflation. Inflation is generally thought of as an undue rise in the general level of prices.  Definition: “Inflation is a situation whereby there is a continuous and persistent rise in the general price level.” According to Meyer: “An increase in the prices that...

    Aggregate demand, Economics, Inflation 1583  Words | 6  Pages

  • Inflation in India

    Introduction: 1.1. Inflation – General Definition: Inflation indicates the rise in price of a basket of commodities on a point-to-point basis [1]. Inflation is caused by a persistent increase in the prices of goods and services. Inflation measures the increase in the cost of living over a period of one year. For example, if a set of commodities bought in January 2000 cost Rs 100, and the same set of commodities bought in January 2001 cost Rs 110, and then the inflation rate is 10%. The...

    Central bank, Consumer price index, Economics 800  Words | 4  Pages

  • Central Bank of Nigeria

    as cheques, wire transfers, debit and credit cards, online transactions, and mobile banking. The advantages of a cashless society are enormous; from regulating, controlling, and securing the financial system of any economy. The Central Bank of Nigeria, led by its Governor Sanusi Lamido Sanusi, has put forward a policy requiring that all cash withdrawals and deposits be set at a daily limit of a maximum of N150, 000 while pegging that of corporate entities at N l, 000,000, with penalty fees of N100...

    Bank, Banking, Cash 1599  Words | 5  Pages

  • Effects of Inflation

    Inflation is defined as a sustained increase in the general level of prices which results in a decline in the purchasing power of money. Inflation is measured through the Consumer Price Index (CPI) which measures proportional changes in prices in a representative “basket” of g’n’s, weighted according to their importance in a typical Australian households budget. The RBA aims to keep inflation at an annual rate of 2-3%, and in order to do this a number of policies are available for the Australian...

    Aggregate demand, Consumer price index, Economics 1606  Words | 5  Pages

  • Concept of Inflation

    Case study: Inflation What is causing Inflation? Inflation is the rise in prices which occurs when the demand for goods and services exceeds their available supply. In simpler terms, inflation is a situation where too much money chases too few goods. In India, the wholesale price index (WPI), which was the main measure of the inflation rate consisted of three main components - primary articles, which included food articles, constituting 22% of the index; fuel, constituting 14% of the index;...

    Economics, Fractional-reserve banking, Inflation 1319  Words | 4  Pages

  • Effects of inflation

    This rise in relative inflation leads to a fall in the world share of UK exports and a rise in import penetration. Ultimately, this will lead to a fall in the rate of economic growth and the level of employment. The problems of a wage-price spiral – price rises can lead to higher wage demands as workers try to maintain their real standard of living. Higher wages over and above any gains in labour productivity causes an increase in unit labour costs. To maintain their profit margins they increase...

    Economic growth, Economics, Inflation 715  Words | 3  Pages

  • Microeconomics: Minimum Wage Will Cause Unemployment and Inflation

    ECO 162 Microeconomics Title : Minimum wage will cause unemployment, inflation, say employers, economists Group: JBM1123u Group Members: Muhammad Asyraff bin Ab Hamid 2010357469 : Mohamad Lukman bin Abd. Manaf 2010114997 : Muhammad Faiz bin Mustafa 2010504183 Lecturer: Miss Diana binti Mazan Executive Summary Minimum wage policy will lead to surging unemployment, “black market” labour and inflationary pressure...

    Employment, Inflation, Labor economics 1611  Words | 5  Pages

  • Remarkable Inflation

    INFLATION: In the 1970s the prices of most things Americans buy more than doubled. Such a general increase in prices is called inflation. Prices of selected goods may increase for reasons unrelated to inflation: the price of fresh lettuce may rise because unseasonably heavy rainfall in California has ruined the lettuce crop, or the price of gasoline may rise if the oil-producing countries set a higher price for oil. During inflation, however, all prices tend to rise. Over the last 400 years...

    Currency, Hyperinflation, Inflation 872  Words | 3  Pages

  • Inflation in Indonesia

    Article about Inflation Subject: Economy Submitted: Thursday, 29 November 2012 By: ID: 014201000039 Name: Joseph Amos P President University, Cikarang Baru, Bekasi, Indonesia 2012 Economics is the most important aspect of a country. The reciprocation of a country is seen in terms of economy. Economics also become a benchmark of development and prosperity in a country. Why does the economy become vitally important in a country? The word "economy" you hear about in everyday life and are...

    Aggregate demand, Economics, Hyperinflation 905  Words | 3  Pages

  • INSECURITY IN NIGERIA

    POVERTY AND INSURGENCY IN NIGERIA: THE BOKO HARAM CHALLENGE. ABSTRACT: This paper aims to study the insecurity in Nigeria which is widely caused by Islamic sects known as Boko Haram in Nigeria and its effects on security. This paper will also find if there is a connection between poverty and Insurgency that has led to a great unrest in Nigeria, the aim of writing...

    Africa, Economic inequality, Islam 1448  Words | 5  Pages

  • Inflation in the Uk

    Inflation in the United Kingdom Introduction: This Essay will be concentrating...

    Aggregate demand, Central bank, Consumer price index 2228  Words | 7  Pages

  • China Inflation

    quickly, inflation has affecting the overall economy. In this article, I will analyses last five years status of China inflation, explain the cause and effects, then base on the cause and effects, giving some solution to deal with the inflation. According to the definition of economics, inflation refers to the number of currency in circulation more than economic operation needed, and then cause currency devaluation and a persistently rising price level. In order to precisely explain inflation in China...

    Bretton Woods system, Central bank, Economics 1951  Words | 6  Pages

  • Inflation in Venezuela

    of which is inflation, or a raising of prices and lowering of currency value. Venezuela is currently experiencing inflation. Inflation, which was caused by failure of socialism, is making the people protest because of higher prices and lower currency value. Venezuela is in a state of heavy inflation. In February, inflation rose to fifty-seven percent (Minaya).Problems with the exchange rate and too much aggregate demand are some of the major causes of inflation (Jay). The inflation rate in Venezuela...

    Bretton Woods system, Central bank, Currency 934  Words | 4  Pages

  • A Description of Nigeria

    Nigeria Essay Located in West Africa, Nigeria is the most populous country in Africa and the seventh most populous worldwide. Thanks to its natural resources, especially oil, its economy is among the fastest growing in the world. From 1901 until its independence in 1960, Nigeria was a British colony. Great Britain decided to grant Nigeria its independence because after World War II Nigeria’s economy was very poor. Comprised of over 250 ethnic groups, as well as a population that is split religiously...

    Central Intelligence Agency, Demography, Kosovo 1287  Words | 4  Pages

  • Inflation Cause, Effects and Remedies

    Inflation It’s causes, effect and remedies. By: Subrat Choudhury Inflation and Deflation I INTRODUCTION Inflation and Deflation, in economics, terms used to describe, respectively, a decline or an increase in the value of money, in relation to the goods and services it will buy. Inflation is the pervasive and sustained rise in the aggregate level of prices measured by an index of the cost of various goods and services. Repetitive price increases erode the purchasing power of money and other...

    Economics, Inflation, Interest rate 11320  Words | 36  Pages

  • Comparison of Mexico and Nigeria

    University The Adventure to Democracy In the midst of the prevalence of democratic transitions, a number of developing countries are seeking to achieve the successful consolidation of civil order in modern days. Among those participants, Mexico and Nigeria has been spotlighted for the completely contrastive endings at the end of their long-adventures towards democratization since their independence; Mexico, from its independence, has maintained the political stability despite the authoritarian single-party...

    Democracy, Democratization, Election 1936  Words | 6  Pages

  • Inflation in Venezuela

    Economy Inflation in Venezuela Economy Inflation in Venezuela Written By: Mateo Tudela Economy Inflation in Venezuela After many years of prosperity Venezuela faces inflation. What is inflation? A popular web page called Investopedia says that “Inflation is the rate at which the general level of prices for goods and services rises, and in the end purchasing power falls.” You may also ask yourself, what is the inflation rate? Inflation rate is a measure of the percentage decrease in currency...

    Cost, Deflation, Economics 727  Words | 4  Pages

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