Top 10 African Countries With The Highest Inflation Rates in 2022. Why Inflation Is Back In Africa.

The global inflation rate has keeps increasing with many economies and countries around the world struggling to lower the rates from United states, Europe, Africa, Asia and Middles east. The rapid rise of the cost of living in Africa. And the reasons for and the effects of inflation in Tanzania, Senegal, Ghana and Nigeria. The prices of most food commodities are soaring on the continent, putting pressure on governments, consumers and the private sector. No short-term solution seems satisfactory. Sudan had the highest inflation in Africa as of 2022. The rate reached roughly 245 percent, according to the source's estimates. Inflationary pressures in the country have been driven by a long-running economic crisis and political instability. By the end of 2021, the already fragile Sudanese economy suffered again when military forces took control of the government. After Sudan, Zimbabwe presented the second-highest inflation on the African continent, averaging 90 percent. Although still high, the rate shrank compared to previous years. With a long history of hyperinflation, Zimbabwe struggles with extremely volatile price levels. In 2020, the country’s inflation rate rose to over 500 percent. As of 2022, rising inflation has become a shared trend worldwide. The overall inflation rate in Sub-Saharan Africa is expected to grow to 12.2 per cent, and this is because many countries on the continent lack a sufficient central banking system, which in turn results in the manipulation of currency to achieve short-term economic goals. Furthermore, the global supply disruptions caused by economic slow down and Russia’s invasion of Ukraine are also some of the major drivers responsible for inflation. In fact, prices are set to rise even further, as Russia and Ukraine are major wheat suppliers to many African countries. Benin, for example, imports all its wheat from Russia, while imports to Somalia originated almost solely from Russia and Ukraine.

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I make travel and informative videos about Africa countries including economic, African cities, African capitals and African infrastructure projects. Best places to visit and live in Africa, doing business in Africa, African culture and entertainment. Hotels in Africa and best places to visit in Africa. I cover countries in africa like Ghana, Tanzania, Senegal, Gambia, Ivory Coast, Burkina Fasso, South Africa, Nigeria, Kenya, Ethiopia, Morocco, Democratic republic of Congo, Uganda, Mali Sudan, Madagascar, Zambia, Zimbabwe, Cameroon, Angola, Namibia, Rwanda, Somalia, Guinea, Tunisia, Mozambique, Botswana, Djibouti, Sierra Leon, Seychelles, Liberia, Malawi, Gabon.