THE DYNAMICS OF REGIONAL INFLATION RATES IN NIGERIA | Journal of Economics and Trade.

The lack of pricing control in Nigeria, as well as the attitude of retailers, has resulted in no discernible pattern in inflation rates. Consumers have relied on retailers to fix prices on a daily basis. Retailers can decide what price things are sold in the market at any time. As a result, there are variances in inflation rates across the country. The national government pays little or no attention because the national inflation rate is its primary concern. The National Bureau of Statistics' pricing section collects data on prices that are used to create state price indices. The state index series available at the National Bureau of Statistics is used to compute state inflation rates for all states in order to study the reasons behind the fluctuations in inflation rates. The country's existing regional structure was used to compute average inflation rates of states within each region, which was then used to generate a multiple regression model of inflation rates for the regions, revealing that the North West and South East contribute the least to Nigeria's rising inflation rates. Despite the above finding, the study was able to determine that the North is the primary contributor to Nigeria's rising inflation rates. The hypothesis was investigated using analysis of variance, and the results showed that there was no significant difference in the means of inflation rates between the regions over the study period.

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