Table 2.
Descriptive statistics.
| Variable | Observations | Mean | Standard deviation | Maximum value | Minimum value |
|---|---|---|---|---|---|
| INF | 227 | 7.617 | 3.991 | 1.852 | 19.720 |
| EXR | 227 | 0.316 | 1.801 | −4.491 | 7.551 |
| MPR | 227 | 9.273 | 2.362 | 5.750 | 18 |
| INFG | 227 | 3.153 | 4.182 | −2.150 | 15.720 |
| M2 | 227 | 0.981 | 1.258 | −4.758 | 6.795 |
| GOP | 227 | 0.881 | 9.592 | −39.641 | 44.390 |
Note: INF, EXR, INFG, MPR, M2 and GOP represents monthly inflation rate, exchange rate depreciation, monetary policy rate, inflation gap, change in broad money supply and change in global oil prices respectively.