I had written most of this article but kept same in abeyance for sometimes as I prioritised other thoughts. However, I came across a recent article by Zachary Taylor in The New Yorker, titled “What if We Are Thinking About Inflation All Wrong?”, which offered new insights into the subject matter, and which validated some […]
I had written most of this article but kept same in abeyance for sometimes as I prioritised other thoughts. However, I came across a recent article by Zachary Taylor in, which offered new insights into the subject matter, and which validated some of my earlier thoughts – especially that we need to broaden out our inflation management strategies. I think Nigeria has been rather inactive about managing inflation.
“The European Union is regulating the price of natural gas, the Biden Administration is regulating the price of gas , and the G-7 is enforcing a global cap on the price of petroleum products produced in RussiaInflation in the western world appears to be cooling today, and by nearly every measure we are living in the best labor market in a quarter century… In February, the European Union began implementing a separate price cap on natural gas that applies to the entire Eurozone…Late last year,...
Things have turned around for Weber. Today, she is feted by Bloomberg, US Congress, Financial Times, Washington Post, European Central Bank etc. Paul Kruger apologized to her openly in January 2023. The Central Bank of Nigeria, through its Monetary Policy Committee has adopted an orthodox approach permanently, by continually increasing interest rates. Perhaps that’s the best the CBN can do, else it be accused of extra-monetarism.
Perhaps direct government interventions to assuage the agonies of our farmers and transporters will help to tame general inflation.
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