From 2006 to 2016, Africa’s annual inflation rate has more than doubled, reaching 12.4%, according to recent data on socio-economic indicators released by the African Development Bank (AfDB).
Worldwide, Africa has been the number one in this regard over the period. In 2016, the region’s average exceeded by far that of the whole planet (3.5%), India’s (4.8%), Latin America and Caribbean’s’ (4.2%), Asia’s emerging economies’ (3.3%), U.S’ (2.7%), and the Euro zone’ (1.7%).
Over the 54 countries studied, only seven have recorded a decrease in their consumer prices in 2016, while in 17 other countries, the inflation rate ranged between 0% and 5%. Countries where inflation stood between 5% and 10% are 18 in all. Those with an inflation rate of more than 10% were 11, that year.
The top 10 of countries with the worst results in regards to inflation, are South Sudan (444.1%), Angola (30.4%), Libya (25.8%), Malawi (21.8%), Mozambique (19.8%), Zambia (18.2%), Ghana (17.5%), Nigeria (15.8%), Sierra Leone (11.1%), Egypt (10.2% but soared to more than 34% in 2017). Globally, these countries have experienced or just exited different sorts of crises (social, economic, financial, monetary, etc).
In the meantime, the CEMAC and WAEMU integration zones have recorded the best performances in terms of inflation which was quite low, under the reference range.
Fiacre E. Kakpo
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
As work on the first phase of the Ahmed Sékou Touré International Airport expansion continues, Guinean authorities have announced their intention to move...
• Loulo-Gounkoto mine remains shut as Mali’s administrator seeks to restart it by selling stored gold• Barrick halted operations in January over export...
Hive Coega has officially entered its construction phase, with tenders now out for its core infrastructure. This milestone comes four years after the...
Côte d’Ivoire, the world’s leading cocoa producer, has set an ambitious target: to process 100% of its cocoa crop at the first stage by 2030. While the...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...