Causes Of Consumer Price Inflation In Nigeria
Inflation rate is primarily measured as the percentage change in the consumer price index (CPI). The CPI measures the price of the representative food and services components such as food, alcoholic beverages, energy, housing, clothing, transport, health, communication, transport, etc (Omotola, 2013). In Nigeria, the consumer price inflation captures the movement in the prices of essential commodities and service that reflect the welfare of the citizens. The argument on consumer price inflation tends to be polarized between the Neoliberal/Monetarists and the Structuralist schools. While the neoliberal/monetarist proponents see the quantum of money supplied as the primary drivers of inflation, the Structuralists point to problems located in institutions, public utilities and infrastructure, security, corruption, goods hoarding and hedging, etc, as causes of inflation.
Beside the neoliberal/monetarist and structuralists argument, factors causing inflationary pressures in Nigeria can be located in the forces of demand and supply. Despite effort to grow the agricultural and the solid mineral sectors, Nigeria still depend primarily on crude oil for revenue. In this context, oil prices and it vagaries, detect goernment expenditure (Ikoh & Ukpong, 2010). Whenever the takings from oil are high,government expenditure is heightened. In recent years the Federal Government fiscal expenditure has increased steadily from just a little over N1 trillion in 2001 (57% recurrent) to over N4
Republican Views On Abortion And Gun Control
1688 Words | 7 PagesMilitary spending is also know as a defense budget, the amount of financial resources dedicated by a nation to raise and maintain a country. Since WWII there has been lots of fluctuation of how much the military spends. As we go from president to president we can see constant changes in how much our country spends on the military. In the year 2000 the gross budget of spending was cut to its lowest since 1939. Since then the military has been weaker than it
Analysis Of A More Perfect Constitution By Sabato
748 Words | 3 PagesGovernors and legislatures intentionally circumvent balanced budget requirements endangering fiscal sustainability and evading public scrutiny. At least a quarter of a state's revenue comes from federal grants
Wisconsin State Senate Support Agencies
822 Words | 4 PagesIn summary, the Legislative Fiscal Bureau provides any necessary assistance in fiscal
How Did The Legislative Branch Build Their Government
776 Words | 4 PagesThey are planning on spending 3.9 trillion dollars in tax money. Speaking of that, congress controls taxes and tariffs to fund for government services, and If enough money can’t be raised to fund the government, then Congress can borrow to make up the difference. Congress can mandate spending on specific items like legislatively directed spending. The legislative branch has the power to spend, borrow, create, and tax money. The legislative branch can literally stop making money or make trillions of
Dwight D. Eisenhower's Legacy
1678 Words | 7 PagesIn fact, the capabilities and capacities called for by the 2014 QDR clearly exceed budget resources made available to the Department”. (Perry Abizaid). However, the Department of Defense is far from suffering like sequestration opponents claim. As Benjamin H Friedman from the Cato Institute points out, defense spending grew “in real terms” 77 percent from 1999 to 2010, adjusted for inflation, reaching levels unseen since World War II. (Friedman)
How Does The Government Affect Us As Canada Citizens
541 Words | 3 PagesOver the years, each different leader, and each different party have dealt with, debt, drought and poverty, therefore, the government may be sinking us into a deep, dark hole of problems and concerns. Back in 1969, Pierre Trudeau, had Canada in a good place with a deficit of only $677m, until in a matter of about a year, there was a deficit of $10.9b. That is a crazy
Homeless Veterans Essay
1213 Words | 5 PagesEvery year the United States government has to agree on a federal budget for fiscal policy. The federal budget breaks down how and on what the country’s revenue will be spent. The budget is divided into several parts, including military spending, veteran benefits, health and science, education, transportation, etc. The national government sets aside approximately fifty-four percent of the federal revenue for military expenses such as guns, tanks, ammunition, etc. These expenses do not include the pay of those who serve in the military.
Roaring Twenties
793 Words | 4 PagesGenerally, periods in which assess rates were higher delivered lacking and stale financial development. Government officials
Government Shutdown In The United States
799 Words | 4 PagesIt is time that the government deal with ways of cutting spending to reduce our deficit so we don’t have to worry about a debt ceiling. A huge expenditure is that of political
Advantages And Disadvantages Of Deficit Spending
641 Words | 3 PagesDeficit Spending Norman Harris American Military University 29 January 2017 Deficit Spending Deficit spending is based off the Keynesian ideology of macroeconomics which, in part, believes the government can be used to stimulate the economy. Deficit spending occurs when a government spends more money than what it takes in over a fiscal period, creating or increasing a government debt balance. Government deficits gets it money through the sale of public securities; an example of public securities are government bonds (Roots, nd). Deficit spending is an intentionally calculated plan included in the yearly fiscal budget of the President and Congress to help stimulate the economy (Amadeo, 2016).
Naked Economics Chapter 1
638 Words | 3 PagesChapter 11 1. Fiscal policy can be described as the use of government purchases, taxes, transfer payments, and government borrowing with an objective of influencing economy-wide variables such as the employment rates, the economic growth, and the rates of inflation (McEachern, 2015). 1. When all other factors are held constant, a decrease in government purchases will lead to an increase in the real GDP demanded 2. An increase in net taxes, holding other factors constant, will lead to an increase in the real GDP demanded.
How Does The Federal Reserve Affect The Economy
613 Words | 3 PagesInflation can be linked to several different reasons. Some main reasons for the cause of inflation are consumer confidence, decease in supplies, and corporate deciding to charge more. (Investopedia) Consumer confidence is when consumers gain more confidence in spending due to a low unemployment rate and wages being stable. As the consumers continue to be more confident in spending this will cause for a high demand of product and services. As the manufacturers and the companies that are providing services see that the demands are going up, eventually they will drive up the prices for the products and services.
Henry Hazlitt Economics In One Lesson Analysis
676 Words | 3 PagesSince the creation of the Federal Reserve, inflation has been a persistent, ongoing problem within the United States (Durden, 2013). Since the Federal Reserve is owned by the banks, it is not surprising that it serves the interests of the bank over the American population, and therefore goes against the idea of a free market and biblical principles (Durden, 2013). The value of money is constantly changing and it subject to manipulation by the Federal Reserve. For example, the Federal Reserve can randomly produce money, and add it to the money system, which devalues the currency already in place, and adds to inflation. This is one reason why the value of the U.S. dollar has fallen by 83 percent since 1970 (Durden, 2013).
The Four Causes Of Inflation In Trinidad And Tobago
1729 Words | 7 PagesInflation is the rate at which the general level of prices for goods and services is rising, and, then purchasing power falling over a period of time. When price level rises, dollar buys fewer goods and services. Therefore, inflation results in loss of value of money.
Literature Review Of Inflation
1055 Words | 5 PagesCHAPTER 2 LITERATURE REVIEW INFLATION (InvestorWords, 2015) stated that inflation is the increase in the general price level of goods and services in economy, normally caused by excess supply of money. Inflation usually measured by the Consumer Price Index (CPI). When the cost of producing goods and services goes up, the purchasing power of dollar will decrease. A customer will not be able to purchase the same goods and services as he/she previously could.
More about Causes Of Consumer Price Inflation In Nigeria
Republican Views On Abortion And Gun Control
1688 Words | 7 PagesAnalysis Of A More Perfect Constitution By Sabato
748 Words | 3 PagesWisconsin State Senate Support Agencies
822 Words | 4 PagesHow Did The Legislative Branch Build Their Government
776 Words | 4 PagesDwight D. Eisenhower's Legacy
1678 Words | 7 PagesHow Does The Government Affect Us As Canada Citizens
541 Words | 3 PagesHomeless Veterans Essay
1213 Words | 5 PagesRoaring Twenties
793 Words | 4 PagesGovernment Shutdown In The United States
799 Words | 4 PagesAdvantages And Disadvantages Of Deficit Spending
641 Words | 3 PagesNaked Economics Chapter 1
638 Words | 3 PagesHow Does The Federal Reserve Affect The Economy
613 Words | 3 PagesHenry Hazlitt Economics In One Lesson Analysis
676 Words | 3 PagesThe Four Causes Of Inflation In Trinidad And Tobago
1729 Words | 7 PagesLiterature Review Of Inflation
1055 Words | 5 Pages