myroyalgold/NIGERIA-INFLATION-RATES

Monthly Inflation Rates and Economic Indicators in Nigeria (2003-2024) # NIGERIA-INFLATION-RATES Monthly Inflation Rates and Economic Indicators in Nigeria (2003-2024) ## OVERVIEW OF THE DATASET This dataset offers an extensive view of monthly inflation rates in Nigeria from March 2003 to June 2024, accompanied by key economic indicators such as crude oil prices, production levels, and various components of the Consumer Price Index (CPI). It captures essential economic trends, making it suitable for time series analysis, forecasting, and economic modeling. The dataset features: - Inflation Rate: The monthly inflation rate in Nigeria, indicating changes in consumer prices. - Crude Oil Price: The average monthly price of crude oil, a crucial factor in Nigeria's economy. - Production and Export: Figures for monthly crude oil production and export, which are significant components of Nigeria's GDP. - CPI Components: A detailed breakdown of the Consumer Price Index, covering categories such as food, energy, health, transportation, communication, and education. ## PROBLEM STATEMENT Examining inflation dynamics in a developing economy that is significantly influenced by oil prices and production. Potential uses include inflation forecasting, economic policy analysis, and assessing the impact of global oil prices on domestic inflation.