Decision Sciences
4 years ago

New Forecasting Models Predict Inflation Trends in Nigeria with Accuracy

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˜The œinternational journal of business and finance research
Time Series Modeling and Forecasting Inflation: Evidence from Nigeria
Ikechukwu Kelikume, Adedoyin Salami

Paper Summary

Entrepreneurs and monetary authorities in Nigeria wanted to predict price level movements. They used a model called ARIMA and another called VAR to forecast inflation. By analyzing data from 2003 to 2012, they identified the best model for predicting inflation in Nigeria. This helps policy makers and businesses track key economic indicators using forecasted inflation.

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