The price of dollar to naira latelely has increased, which is affecting the price of goods and services and has led to inflation in the country.
The question many people may ask is ,
1. What is the meaning of inflation ?
2. What is the cause of inflation ?
I will start by defining the word "Inflation "
Inflation is the rate of increase in prices over a given period of time or tge increase in cost of living in a country. Generally, inflation also affects our exchange rate in the country.
The main cause of inflation in our modern day is; Devaluation. And Devaluation occurs when a currency loses value in comparison to other currencies. This makes imports more expensive and can lead to inflation ...