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
Related Articles
- EP ID EP706907
- DOI 10.47191/jefms/v5-i2-05
- Views 51
- Downloads 0
Risk and Risk Management in the Public Sector : A Theoretical Contribution
All public and private sector organizations are vulnerable to internal and external integrity risks, such as fraud and corruption and others. In the absence of mechanisms to identify, analyze and manage these risks, they...
Moderating Role of Institutional Quality on Public Debt Sustainability in Kenya
The focus of institutional economics is on the crucial part that institutions play in a nation’s economic performance. With a focus on transaction costs as a crucial element of economic activity, it offers a framework fo...
The Role of Supply Chain Capabilities in Increasing the Competitive Advantage of Photo Catalyst Ceramic MSMEs in Bali
The long-term goal of this research is to develop knowledge in the field of Strategic Management, especially about Collaborative Value Innovation, Supply chain strategy, strategy of competitive advantage in SMEs. This re...
Analysis of Motor Vehicle Tax and Name Reversal Duty Contributions on Locally Generated Revenue of Regencies and City in Central Sulawesi Province in 2014-2018 Period
This study aimed to investigate the contribution and influence of Motor Vehicle Tax and Name Reversal Duty on Locally Generated Revenue in Central Sulawesi using a quantitative descriptive method. In additon, relevant da...
Accounting of Funds of Higher Education Institutions from the form of Payment-Contract in the Treasury System
The article examines the need for a treasury information system in public finance management in the digital economy and the importance of using software packages in the execution of the treasury budget. The analysis of o...