CHINEDU OKAFOR
Africa-Press – Liberia. Business Insider Africa presents the top 10 African countries with the highest drop in inflation rates in one month.
This list is provided courtesy of Trading Economics, a data platform that offers its customers precise data for 196 nations.
The current figures represent the inflation rates of African countries in August, compared to inflation figures in June and July.
Inflation, defined as a sustained rise in the overall price level of goods and services over time, may have major and far-reaching effects on economies and communities.
A high inflation rate typically worsens the economic condition of any given region and generates new ones, particularly in a continent like Africa, where many states are battling numerous financial crises.
Many African countries have seen protracted periods of severe inflation, which devalues currency and strains household finances. This problem is influenced by a wide range of linked factors.
Among the many factors contributing to inflation in the area are interruptions in supply chains, currency depreciation, political unrest, shoddy infrastructure, and shifts in world commodity prices.
However, in the past month, some countries have seen a significant drop in the inflation rate they previously had to deal with.
This article provides the African countries that have experienced the most significant drop in inflation since their last monthly inflation report.
This list is provided courtesy of Trading Economics, a data platform that offers its customers precise data for 196 nations, including historical data and projections for more than 20 million economic indicators, currency rates, stock market indices, government bond yields, and commodity prices.
The current figures represent the inflation rates of African countries in August, compared to inflation figures in June/July, shown in an earlier report.
Below are the top 10 African countries with the highest drop in inflation rates in one month.
Rank Country August Inflation June/July inflation
1. Zimbabwe 77.2% 101%
2. Ghana 40.1% 43.1%
3. Kenya 6.7% 7.3%
4. Senegal 5.3% 5.7%
5. Mozambiqu 4.93% 5.67%
6. Togo 3.8% 6.4%
7. Mauritania 3.7% 4%
8. Uganda 3.5% 3.9%
9. Seychelle -2.44 -1.98%
10. South Sudan -3.1% -1.6%
source:africa.businessinsider
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