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An investigation into inflation rate of household commodities before and during the COVID-19 pandemic

 Department: Mathematics and Statistics  
 By: usericon kruskalstat  

 Project ID: 4632
   Rating:  (5.0) votes: 1
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The study evaluated the application of the index number method in evaluating price changes and its associating consumption of various household commodities before and during the period of COVID-19 pandemic lockdown in Nigeria. The study investigated four time intervals, January 2020 (before the pandemic), April, July, and October, 2020 and different phases during the pandemic lockdown period. Using the Paasche's and Laspeyres indices, the results were compared for price changes over the period. The result of the study indicated both methods performed equally. The findings also indicated that the prices of common household commodities significantly change over time, before the period of before the pandemic and during the pandemic lockdown. The result from the study indicated that the index number estimators are efficient in evaluating price stability or inflation performance in the market to indicate whether certain commodity values are growing or falling. The study also added that the event of the COVID-19 pandemic has affected the living economic conditions of households significantly during the pandemic lockdown. ...
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