Inflation

According to The Oxford Ameri bum College Dictionary , the term pretension is delimitate as a general increase in prices and decamp up in the purchasing value of m adepty (Lindbergh , 2002 ,. 685 . In former(a) words , inflation or a rise in the cost of goods and services , is also a decrease in a consumer s ability to buy those same goods and services . has a pro engraft negative impact on the parsimoniousness of each tribe . While there is historical selective information on many nations throughout the human being to withstand the previous statements , peerless of the best contemporary examples of inflationary implications can be found in the West African nation of Nigeria . Economic indicators hold : purchasing power parity / quantity of living , a filiation in investments and savings , a rise in w climb ons whic h often melt downs to railway line loss /unemployment , and a decline in overall stinting growth /gross house servant product (production . In this document , we will present pictorial evidence of trends in inflation and GDP (gross domestic productNigeria is one of the globe s to the highest degree heavily populated nations , with a cosmos estimated at to a greater extent than than 140 million people (Central scholarship Agency , 2008 . During the lead forty-eight years , Nigeria has experienced slap-up fluctuations in inflation (and consequently its economy ) for a potpourri of reasons - independence from British rule in 1960 , civil excitement , governmental decadence and more (Central news Agency , 2008 . disrespect an abundance of infixed resources and its status as one of the world s largest producers of oil , Nigeria trunk an impoverished nation , with 70 of its state living at or below the poverty take aim (Central Intelligence Agency , 2008 . In fact Nige ria s per capita productivity dropped to 290! fall in States dollars in 1988 when inflation rose to more than 38 (U .S . department of host 2008Data from the Index Mundi (2008 ) shows some evidence of trends in the close five years .

When comparing inflation statistics with that of other sparing indicators , a decrease in inflation , for example , seems to transport an increase in productivity . note , however , that balk of this would require further digest via an econometric study (regression psychoanalysis ) and inclusion of other variables , including the impact of the AIDS epidemic (health and epoch of its population , oil sales (Nigeria s major export ) and more ReferencesCentral Intelligence Agency (2008 . Nigeria . The World Factbook Retrieved October 4 , 2008from hypertext transfer protocols / web .cia .gov / subroutine library /publications /the-world-factbookIndex Mundi (2008 . Nigeria . Retrieved October 4 , 2008 from HYPERLINK http /indexmundi .com http /indexmundi .com /nigeria /inflation_rate_ (consumer_prices .html and HYPERLINK http /www .indexmundi .com http /www .indexmundi .com /nigeria /gdp_real_growth_rate .htmlLindbergh , Christine A , ed (2002 . The Oxford American college dictionary . Oxford UniversityPress , Inc . saucily York , NYU .S . Department of Army (2008 . Country studies /area handbook : Nigeria federal official ResearchDivision of the depository library of Congress . Retrieved October 4 , 2008 from http /www .country-studies .com /nigeria /income-distribution .htmlPAGE \ MERGEFORMAT 1...If you penury to get a full essay, order it on our website: OrderCustomPaper.com

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