THE STATISTICS ANALYSIS ON INFLATIONARY TREND IN NIGERIA FROM (2001-201). A RESEARCH PROJECT MATERIAL ON ECONOMICS
One major target of Marco-economic polices is how to achieve stability in price level, stability here does not mean a situation where price will remain fixed, but a situation where variation in pries over a long period is minimal since there is no stability in price sellers in labour and capital market kept increasing, there prices for some economic and other reasons while the producers and sellers in commodity market also complains of increasing cost of production or purchasing cost employees in labour market form union and fight for increased wages to enable them meet up with high cost of living and depreciation in purchasing power of money. The ultimate effect is that price continues to go up from time-to-time, if these increase in price where gradual may be one or two percent per year, people can easily adjust without much complaints but when prices are generally rising at a very fast rate people become very worried and that is when the effect of rising pries becomes of more significance to the economy and lead to a situation known as Inflation, which is a process of steady and persistent rising pries caused by too much money chasing too few goods. These however, posses great challenges to the citicizens in particular and federal government generally, because it affects those with a fixed income and causes distortion government development and co-operate plans.
Based on these critical situation been experienced in the country due to inflation. This project work “The statistical analysis on inflationary Trend in Nigeria from 1999 -2010 is desired to achieve the following objectives.
- To estimate the quarterly trend of inflationary rate in Nigeria from 1999-2010
- To investigate if these is any seasonal variation in the inflationary rate in Nigeria.
- To ascertain whether there is any significance difference in means quarterly inflationary rate from 1999-2010.
- To determine factors that are responsible for inflation in Nigeria and proffer possible solutions to it.
- To make necessary recommendation based on influence drawn from the findings.
Furthermore, the research hypothesis will be to determine whether there is a significant increase in the trend and seasonal variation in the inflationary rate in Nigeria.
The data will be collected through secondary source, like the annual publication of the National Beareu of statistics NBS forming known as the Federal Office of Statistics, while the statistical tool that will be sued for analyzing data’s that will be collected is time series analysis and Analysis of variance (ANOVA)
Finally, this research work will be f great significant to the Federal government in particular and the citizenry in general since it will enable government fight the root causes of inflation by introducing corrective measures though making of well articulated economic polices towards reducing these ugly diseases called inflation in our economy.
In this contemporary society one major target of a macro economic polices is how to achieve stability in price level. stability here does not mean a situation where price will remain fixed, it means a situation where variation in price over a long period is minimal