ASK LEO:WHY DOES FESTIVE PERIOD ALWAYS ATTRACTS INFLATION OF PRICE OF GOODS AND SERVICES?

Since the ending of last month, it seemed obvious that there will surely be high inflation of price of goods and services. Well, that's the nature of what comes around during the festive because there are lot things attach to this ceremonious period. Festive period and always been, Spending! Spending!! Spending!!! Every now and then.

I don't have a clue about it usually happens in other countries, but here in Nigeria, festive period usually attracts inflation of price of goods and services. That's how it has usually been in the past years. So I never expected this year's own to be quite different.

What usually mostly affect the price of goods and services in Nigeria?

Here in Nigeria,once the motor spirit price increases, there is 70% assurance that all other price or goods and services will also follow suit. Ranging from the price of transportation down to other services. In addition, automatically the price for food stuffs will also increase as if it's the motor spirit that is used in producing these goods.

Aside that, festive season here is seen as to the period that people come to celebrate together after long period of being far away and Moreso, people see it as the opportunity to have time to rest and have somewhat of a long break after working for the full 12 months. So all these runnings here and there always attracts high financial spending which those that provide goods and services see the period as the time to inflate prices because people will have no choice than buying since it usually done once in a year.

Please note that, this isn't a cryptocurrency, financial or business advice,it's just an opinion. If you need a cryptocurrency, financial or business advice, consult a cryptocurrency or financial experts. Thank you.

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