Contest:How to Control Inflation
Hello friends good to have you all here today in my blog and I hope all is well and you all are having a very wonderful day, as for me I'm managing our countries bad economy.
Inflation has been like a parasite feeding the life out of many nations around the world and it is even worse in my country Nigeria more than any other nation in the world
Express your views on how to reduce inflation
My view on how to reduce inflation isn't that far fetch in the sense that it is the sole responsibility of the government to reduce and overcome inflation not private individuals.
And some of the various ways that can help in reducing inflation are;
The government should focus on youths empowerment as well as the total increase in the general level of production in the nation
The government should try and make a review on the foreign policy with other nations around the world
And increase in tax should be on the list but this should be done after youth empowerment
Explain how product inflation occurs
Product Inflation otherwise known as goods or service inflation is the continuous rise in price of goods due to the incessive increase in the cost of production which has to do with the cost of materials used in the production of such goods
What is the reason why inflation is higher in the village than in the city?
The main reasons why things tend to be more expensive in the village than it is in the city is due to population, as cities generally is the center of attraction as many producers will choose to focus their distribution to the city than to the villages so as to make more sales cause it will certainly reach more potential customers as compared to such a product being distributed to the villages.
Explain what role you think the country's government should play in reducing inflation.
Our government has a special role to play in reducing the inflation of their state or nation, in fact the economy of the entire nation lies solely on the shoulders of our government which is our leaders.
And some of the simple things they can do in other reduce inflation are;
Since inflation has to do with the increase in price of goods and services therefore the government should focus mainly on the overall production of the basic needs of the citizens and ensure that the demand line levels with the supply line
The government should set up a monetary target policy as well as a state bugget to fight and reduce inflation in the country.
That will be all for my today's post and I really appreciate your support and I will like to invite some friends to participate
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I really appreciate your review thanks
Thank you, friend!
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I think the method you described can reduce inflation significantly if it is really implemented by the government. Thank you for the invitation my friend, good luck in this contest 🙏
I really appreciate it
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