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

The lack of pricing regulation in Nigeria and the attitude of retailers has resulted in no discernible pattern in inflation rates. Consumers have relied on merchants to fix prices on a daily basis. Retailers can select what price things are offered in the market at any moment. As a result, there are variances in inflation rates across the country. The national government pays little or no attention since the national inflation rate is its primary concern. The National Bureau of Statistics obtains pricing data for state price indices through its prices section. The state index series available at the National Bureau of Economic Research was used to study the reasons behind the changes in inflation rates. All state inflation rates are calculated using data from the National Bureau of Statistics. 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 aforementioned finding, the study discovered that the North is the primary contributor to Nigeria's rising inflation rates. However, analysis of variance revealed that there was no significant variation in the means of inflation rates between the areas over the research period.

Please see the link :- https://www.ikprress.org/index.php/JET/article/view/6938