statistician, Dr Olusanya Olubusoye, has advised politicians and government at
all levels against reckless fiscal spending to prevent inflation ahead of the
University of Ibadan, gave the advice in an interview with the News Agency of
Nigeria (NAN) in Abuja on Monday, while reacting to March inflation figures.
Price Index (CPI) dropped from 14.33 in February to 13.34 per cent in March
year-on-year, according to the National Bureau of Statistics (NBS).
many causes of inflation.
parties usually raised and spent huge funds for their campaigns during
money in circulation and fuels inflation.
tendency is there to have inflation triggered by the careless spending on the
part of the government.
of the opposition to outwit the party in power,” he said.
the price level actually rose marginally by 0.8 per cent in March when compared
to the price level in February.
compared to what was observed in March 2017, the figure increased by 13.34 per
goods and services in Nigeria increased by 13.34 per cent between March 2017
and March this year,’’ observed Olubusoye.
consecutive reductions in inflation rate since January 2017.
since January 2017 repeatedly for 14 periods.
February 2018 to 13.34 per cent in March 2018 which is about 0.99 percentage
points; this analysis simply reveals two important points.
increasing for 14 months consecutively.
month compared to the corresponding month in the preceding year for each of the
14 consecutive months is, however, declining.
the extent that they are not,” he said.
were telling the truth about the price situation in the country.