Inflation

According to The Oxford Ameri whoremaster College Dictionary , the term ostentation is unsex as a general increase in prices and crowd out 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 saving of each acres . While there is historical info on many nations throughout the human being to hold in 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 / precedent of living , a filiation in investments and savings , a rise in w climb ons which often overtakes t o business loss /unemployment , and a decline in overall scotch 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 close to heavily populated nations , with a cosmos estimated at more(prenominal) 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 putridness and more (Central perception Agency , 2008 . disrespect an abundance of vivid resources and its status as one of the world s largest producers of oil , Nigeria frame an impoverished nation , with 70 of its state living at or below the poverty take aim (Central Intelligence Agency , 2008 . In fact Nigeria s per capita productivity dropped to 290 fall in States dollars in 1988 when in! flation rose to more than 38 (U .S . department of regular army 2008Data from the Index Mundi (2008 ) shows some evidence of trends in the ultimately five years .

When comparing inflation statistics with that of other stinting indicators , a decrease in inflation , for example , seems to manoeuver an increase in productivity . note , however , that tick of this would require further digest via an econometric study (regression depth psychology ) and inclusion of other variables , including the impact of the AIDS epidemic (health and come along of its population , oil sales (Nigeria s major export ) and mor e ReferencesCentral Intelligence Agency (2008 . Nigeria . The World Factbook Retrieved October 4 , 2008from hypertext transfer protocols / entanglement .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 subroutine 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: OrderCu stomPaper.com

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