Modeling and Forecasting Inflation in Nigeria: A Time Series Regression with ARIMA Method

Domain:

socioeconomic

Record type:

paper

Creator:

EmwPamPasElo

Publisher:

Afr

Host:

This study uses time series regression with autoregressive integrated moving average (ARIMA) modeling to establish a model for forecasting inflation in Nigeria for the period 1981-2020. Akaike Information Criterion Corrected (AICC) and Bayesian Information Criterion (BIC) were used to select the best model among competing models. Through these methods, regression with ARIMA (0,0,1) error was selected as the most parsimonious model for inflation forecasting in Nigeria. The results of the out-sample-forecast show that a high inflation rate will be experienced by the end of 2023, and between 2024 and 2030, the inflation rate will be alternating but will maintain a lower rate than that of 2023.

Visit

doi.org

Licenses

https://creativecommons.org/licenses/by-nc-nd/4.0/

awojidetola/Time-Series-Forecasting-with-Arima

This project uses ARIMA models to analyze forecast the fertility rate in Nigeria # Time-Series-Fore

Modeling and Forecasting Inflation in Ethiopia Using Multivariate Time Series Analysis

Inflation is a fundamental measure of macroeconomic stability that negatively impacts the nation's e

Rainfall Forecasting for Odeda, South-Western Nigeria using a Seasonal ARIMA Time-Series Model

Rainfall occurrence within Odeda in Southwestern Nigeria. For this purpose, rainfall records spannin

utubora-katana/Forecasting-inflation-Arima

Forecasting inflation rates in Kenya using Arima model (0,1,0). # Forecasting Inflation Rates in Ke

Time-Series Forecasting of School Abductions in Nigeria: An ARIMA-Based Early-Warning Framework

School abductions in Nigeria persistently undermine educational continuity and human security. While

Enhancing Food Inflation Rate Forecasting with a Hybrid ARIMA-XGBoost-SVR Model

The data are monthly food inflation rates of six African countries: Nigeria, South Africa,