Africa still the region with highest inflation rate, worldwide

Must Read

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...

2019 Review & 2020 Outlook – LBS Executive Breakfast Session (December 2019)

Nigeria – No longer a smugglers paradise The Jury is out as to whether the present border closure in Nigeria...
- Advertisement -
- Advertisement -

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.

Read:  RENEWED COLA WAR IN NIGERIA PART 2

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).
Read:  Capital Importation Into Nigeria Drops By 7.7% in Q3 2019

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.

 

 

 

Ecofin

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Vingroup Launches 5 First Smart TV Models

HANOI, VIETNAM - Media OutReach - 15 December 2019 - On December 14, 2019, Vinsmart Research and Manufacture Joint Stock Company (Vingroup member)...

2019 Review & 2020 Outlook – LBS Executive Breakfast Session (December 2019)

Nigeria – No longer a smugglers paradise The Jury is out as to whether the present border closure in Nigeria should be extended or shortened....

Inflation, Rolling with the Punches “Border closure, Lower interest rates…”

Based on our survey, headline inflation for November is projected to increase to 11.88% from 11.61% in October. In the last six months, headline...

Agusto & Co announces the retirement of its Chief Executive Officer, Vivien Shobo

Agusto & Co, Nigeria’s foremost Credit Rating Agency, has announced the retirement of its Chief Executive Officer - Vivien Shobo, effective 31 December 2019....

More Articles Like This