ivolt:

Then be ready to see people queue to buy few beads produce daily.
Layman "sense" doesn't work with economics.
Many countries have learnt the lesson in a bitter and tragic way.

clarocuzioo:
If they expalin Nigeria tod you and you understand it, the person did not explain it well.

AcadaWriter:
But food prices rose immediately naira depreciated

oloriooko:
But food prices rose immediately naira depreciated

immortalcrown:
Rational people know this. Sentimentalists are the ones nagging.

patrickcollins:
There is nothing like Rational here, Tinubu policies triggered the hike in price, the wife is just always blabblng

Vinnie2000:


BLAME Tinubu.
He is the Cause.😏😒

Retailers or Traders were NOT Greedy under Jonathan or Yaradua or even Buhari.

As soon tinibu Removed Subsidy which led to Exhorbitant Fuel Price, the Economy Sommersaulted and Crashlanded.😌

If you as a Clothes Trader travel from Warri to Onitsha Markets on High transportation costs,
Can you sell ur Clothes cheap?😕

As a Bookshop owner, If you Travel a Long Distance with high Tfare to get products, can you send the books cheap?

Richtaiwo:

Like seriously? He should have told you when the wares will be out of stock before ordering for fresh ones at the new rate? Honestly, I have been reading foolish comments but this particular one takes the crown. Are you aware this government owes you no explanation? Your president, gringory obi is your president and only he owes you any explanation.

immortalcrown:
Rational people know this. Sentimentalists are the ones nagging.

If you rational and not selfish, you don't have to be a trader to understand that it is unfair to ask traders to reduce prices now.

Paraman:


https://punchng.com/food-prices-wont-drop-immediately-despite-naira-appreciation-economists/?utm_source=telegram&utm_medium=social

Jovi10:
But it is fair and business to increase the price when of all their old stocks and sell it at high prices because of the said dollar?

immortalcrown:
The post is not about what triggered inflation. The post is about why traders will not reduce prices now.

patrickcollins:
Why should traders reduce price when government are incompetent and heavily taxing manufacturers and cost of energy has gone up especially diesel

immortalcrown:
You have abandoned your first argument to talk about something else. Did I say the government is not the cause of the inflation?

immortalcrown:
Rational people know this. Sentimentalists are the ones nagging.

If you are rational and not selfish, you don't have to be a trader to understand that it is unfair to ask traders to reduce prices now.

Even NNPC has not reduced fuel price that is directly dependent on Dollar rate. This is because fuel imported or distributed at the old rate will be sold based on the old rate. This is a simple logic.

Retailers that have old stock sell with the rate that will enable them buy more from wholesalers who imported at high rate.

Also, retailers and importers who bought items after the fall of Dollar rate need to sell with the existing high rate because there is no guarantee that the current Dollar rate will either be stable or go lower.

The Dollar rate has to either remain stable or continually fall for many months before it becomes wise for traders to reduce prices. Traders may reduce prices now and Naira will fall to 3k per dollar next two months, making it difficult for the traders to raise capital by then.

Paraman:


https://punchng.com/food-prices-wont-drop-immediately-despite-naira-appreciation-economists/?utm_source=telegram&utm_medium=social

ddippset:
See this one! Mr Rational!!
When prices increase, they don't wait for their old stock to finish they just raise the price immediately even with that old stock.

But when price comes down they will be waiting to sell off old stock.

Mr Rational, dey there dey mumu yasef.