Assessing of historical trends of bid unit rates for paved roads in comparison with inflation
Abstract
In this paper, the relationship between inflation and bid unit rates for paved roads in Uganda has been explored empirically for the period 2006 to 2015. A sample of five items was taken as shown in table 1 below but the empirical tests were performed on only three items as sub-samples.
The empirical results show that both series in inflation and unit rates are non-stationary even after being integrated of order 1, the series are also non-seasonal and there is no Auto-correlation between the two-time series, there is co-integration between them at r =2