Following new statistics released by the national. Bureau of statistics on the inflation rate of the country, a financial expert Kenneth Okara is blaming the situation on instability in prices of commodities. The financial analyst told our reporter that the inflation rate can only be controlled when the economy is stable.
He said at the moment, the country is experiencing three major inflation. Which are, cost push inflation, demand pull inflation and inbuilt inflation. Stating that this will continue if nothing is done about it. He further explain that people spend more time planning against inflation rather than being productive in the economy. Adding that, that alone can affect the economy.
The financial expert further explain that prices are not steady and they are drivers of the economy in terms of fuel price. He said fuel prices are not steady but always dangling . Stressing that it affects businesses, budgeting, even diesel and the general operation of businesses. Adding that these are the drivers of every economy, once you can not get prices stable it affects the economy. The financial expert however, suggested that investment in the real sector are also catalyst for economic growth.
