The Impact of Energy Price Volatility on Inflation in Nigeria
Journal Title: Journal of Economics, Finance and Management Studies - Year 2022, Vol 5, Issue 02
Abstract
The event of the covid-19 pandemic led to fluctuation in energy prices and different economies are still recovering from the impact of the pandemic. The pandemic also saw a rise in prices which made the cost of living difficult for the common man. This paper investigated the relationship between energy prices and inflation in Nigeria between the years 1985 to 2018. The unit root test performed on the data indicated that the ARDL method be used to analyze the data. The result of the bounds test shows the presence of long run relationship. The long run result shows that energy prices have no impact on inflation in the long run. In the short run the one-year lag of oil price has a negatively significant impact on inflation while, the one-year lag of gas price has a positively significant impact on inflation in Nigeria.
Authors and Affiliations
Leera Lenu Kpagih, Amini Maton-Awaji Clifford, Dr Kingsley Odungweru
Keywords
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- EP ID EP706907
- DOI 10.47191/jefms/v5-i2-05
- Views 73
- Downloads 0
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