inflation rate in west african countries 2022

Inflation in New Zealand exceeded forecasts in 2022 July, reaching 7.3% which is the highest since 1990. Zambia's annual inflation rate fell for the sixth month in a row in January 2022, to 15.1 percent from 16.4 percent the previous month. Nigeria's inflation rate drops to 15.6% in January 2022, from 15.63% in December 2021 Nigeria's consumer prices dropped to 15.6% in January 2022 according to the West African country's. Copyright 2021 AM Investor Services SPRL. Cookies can be themselves or others. The inflation rate accelerated by 0.8% points compared to 7.1% recorded in the previous month. But what is inflation? Inflation rate in Ghana for the month of September was 37.2% suggesting the country's economy battered by currency depreciation [] The last time the inflation rate in Nigeria touched the 18.6% ceiling was January 2017, when it stood at 18.72%. According to the figures revealed by the Ghana Statistical service, inflation rate jumped to an all time high of 40.4% for the month of October 2022.The high inflation rate is responsible for the rise in the cost of goods and services in the west African country.The inflation rate in Ghana for the month of September was 37.2% suggesting the country's economy battered by currency depreciation . Annual inflation rate in Botswana increased to 12.7% in June of 2022, the highest since January of 2009, and compared to 11.9% in May, pushed up by elevated global energy prices. US debt to GDP ratio. Universities Offering Free Online Courses, Apply for the Catalyst Jobtech Accelerator and the Jobtech Innovation Lab, Nigerias Landmark Africa Secures Over $24 Million Shelter Afrique, SiyaDlala SiyaFunda Playdates Will Take Place this November. The rate surged past the central banks target range for the first time in more than 5 years. The world is currently battling with high inflation rate and Africa is not exempted from this experience, with countries on the continent printing record high inflation rate in 2022. One of Africa's poorest countries and one of Africa's top 20 richest countries per capita. Asian markets tepid with eyes on China, US midterms. 5. PAY ONLY WHEN YOU CONFIRM ! Fuel continues to be a major contributor: to the rising inflation rate. Reacting to the surging inflation rate, monetary regulators of several countries have also raised their interest rates to curb the rising cost of goods and services. Remarkably, Venezuela began experiencing continuous and uninterrupted inflation in 1983 with inflation rates being in double digits. Furnishing and household equipment and transport also rose 55.7% and 46.3% respectively year on year. South Africa inflation rate for 2020 was 3.21%, a 0.91% decline from 2019. This implies that the month-on-month inflation between May and June 2022 was 3%. Moreover, the increase has been less dramatic than in other areas of the world for different reasons. The government of the West African nation hopes to restore macroeconomic stability amid surging inflation and price hikes which have forced a series of protests calling for the resignation of President Nana Akufo-Addo and the sack of Finance Minister Ken Ofori-Atta. Non-food inflation stood at 29.1% from 25.7% recorded in May 2022. This is due to the fact that most countries on the continent do not have enough central banking systems. Since the start of the Russia-Ukraine conflict, Zimbabwes inflation rate shot up from 66% to more than 130% in May. Data shows that Nigeria has one of the highest inflation rates across countries in West Africa. The first thing to understand, is this stagflationary period differs from that of the late 1970s/ early 1980s, due to the much higher debt levels. Nigeria. Read Story here. For example, Britains inflation rate hit 9.1% in May, a new 40-year high and up slightly on the previous month. The last time the rate was above October's level was in July 2001 of 40.51% and it goes way above the country's central . Zimbabwes inflation rate surged to 191% in the month of June 2022 from 132% recorded in the previous month, further eroding the purchasing power of the citizens. #2. October 20, 2022. The following countries are the ones with the lowest inflation rates among countries that reported updated numbers in May 2022, according to tradingeconomics .com: 1- Hong Kong 1.2% 2-. To calculate cumulative rates between two different periods, you can use the South Africa Inflation Calculator. All Rights Reserved. China factory gate prices fall for first time in nearly two years. This is also the highest reading since January 2017 when the rate was 6.6%. Last year, Sudan topped the list of countries in the world with the worst inflation rate at 382.8% based on a 12-month moving average. 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So when you access our website, in compliance with Article 22 of Law 34/2002 of the Information Society Services, in the analytical cookies treatment, we have requested your consent to their use. It was the highest inflation rate since March of 2009, with prices of food & non-alcoholic beverages surging 26.1%, the most since February 2020, amid soaring commodities. Required fields are marked *. South Sudan. The rise in the inflation rate was attributed to increase in bus fares and other transportation costs. The rate surged past the central banks target range for the first time in more than 5 years. The rising cost of energy around the world has translated to a significant uptrend being witnessed in most economies as prices of goods and services have reached unprecedented levels. Countries With the Lowest Inflation 2022. The maximum level was 20.7 % and minimum was 0.2 %. Due to a slowing in food costs (16.9% vs. 19.9% in December) and despite a further depreciation of the kwacha, this was the lowest rate since March 2020. PAY ATTENTION: Join Legit.ng Telegram channel! The inflation rate eased to 1.7% in August 2019. According to the FRED chart below, the US debt to GDP ratio in the '70s was around 35%. A list of African countries and how they are faring in terms of the inflation rate, based on their recent inflation numbers has been compiled below: Sudans inflation rate has decreased to 220.7% in April 2022 from 263.2% recorded in the month of March 2022. South Africa: 4.1000: 4.6000: 03/ . Top 10 Countries With The Highest Inflation Rates In Africa. HARARE Zimbabwes annual inflation rose to 2569 per cent in July 2022 data released by the Zimbabwe National Statistics Agency ZIMSTAT on Friday showed. Nairametrics compiles a list of African countries and how they are faring in terms of inflation rate, based on their recent inflation numbers. Reacting to the surging inflation rate, monetary regulators of several countries have also raised their interest rates to curb the rising cost of goods and services. South Africa inflation rate for 2018 was 4.52%, a 0.67% decline from 2017. If you continue to use this site, you consent to our use of cookies. Central banks from each country must take decisive steps to suppress inflation until it becomes clear that inflation rate is moving within a specific range.. Zimbabwe: According to the Zimbabwe National Statistics Agency (ZimStat), this Southern African country's inflation rate stood at 66.1% as of February 2022. The annual inflation rate for the United States is 8.3% for the 12 months ended August 2022 after rising 8.5% previously, according to U.S. Labor Department data published Sept. 13. Ghana's cedi, emerged as the worst-performing currency in the world in October, according to World Bank, slumping 57% in value since January 2022. According to her, Even now, the prices are creeping up. Relevance for Nigeria: Africas largest economy, Nigeria, is also experiencing galloping inflation currently at about 20.7% year on year. At the beginning of 2022, Sudan's inflation rate was 340.0 percent, making it the second-highest. The Laspeyres formula is generally used. Inflation Rate. According to the Managing Director of the Kenya National Bureau of Statistics (KNBS), Macdonald Obudho, the rise in inflation was mainly due to increase in prices of commodities under food and non-alcoholic beverages, furnishings, household equipment and routine household maintenance, transport, and housing, water, electricity, gas, and other fuels. The spike in the inflation rate was majorly pushed in sectors including electricity, gas, transport, water, housing, Furnishing and household equipment. Articles Linked Above: What is Hyperinflation? Below is a table showing African countries with the lowest inflation rate: Ranks (#) Country. Nigerias inflation rate surged to a 65-month high of 18.6% in June 2022 from 17.71% recorded in the previous month, representing the fifth consecutive monthly rise in the rate of inflation. [111] Economists at ANZ reportedly said they expected faster interest rate increases to counteract inflationary pressures. Your email address will not be published. Highest Inflation Rate Countries in the World (Trading Economics Jan 2022): Venezuela 1198.0%; . The surge in inflation rate is following the rally in crude oil prices, amidst the face-off between Russia and Ukraine. We verify whether cocoa prices could be a source of inflation in five countries of the West African region within a framework that includes other variables such as migrant remittances to. Across the world, inflation is on the increase with food and energy prices hitting record highs. The biggest upward pressure came from prices of transport, food and non-alcoholic beverages, housing and utilities, and miscellaneous goods and services. Since the start of the Russia-Ukraine conflict, Zimbabwes inflation rate shot up from 66% to more than 130% in May. 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The overall inflation rate in Sub-Saharan Africa is expected to grow to 12.2 per cent. For example, Britains inflation rate hit 9.1% in May, a new 40-year high and up slightly on the previous month. Ghana's inflation rate for the month of June 2022 accelerated to 29.8%, up from 27.6% recorded in the previous month and the highest in 19 years. Today it is three and a half times higher, at 125%. Copyright 2022 AfriWallstreet. The annual inflation rate in Rwanda accelerated to 16.1% in June of 2022 from 14.8% in the previous month. Central banks from each country must take decisive steps to suppress inflation until it becomes clear that inflation rate is moving within a specific range.. The report also stated that non-food inflation jumped from 36.8% in the previous month to 37.8% in October, as consumer prices rose by 2.7%. Other African currencies that are also struggling against the US dollar include South Africa's rand and Nigeria's naira. (View Release Schedule for details on upcoming releases) Data Provided By 2022 Inflation Charts U.S. CPI 2022 2022-01-01 2022-09-01 280 285 290 295 300 Chart by Visualizer According to her, Even now, the prices are creeping up. Inflation is measured in terms of the annual growth rate and in index, 2015 base year with a breakdown for food, energy and total excluding food . Inflation Rate Forecast 2022/2023 - was last updated on Tuesday, November 8, 2022. Fuel continues to be a major contributor: to the rising inflation rate. The International Monetary Fund has also projected that the present inflationary pressure will continue until 2023, leading to further concerns over a consequent global economic recession. ET. For example, the 12-month inflation rate for November 2017 is the percentage change in the CPI of November 2017 and November 2016. West Bank and Gaza inflation rate for 2018 was -0.20%, a 0.41% decline from 2017. The country was pushed into hyperinflation last year and the minimum wage in the nation is equivalent to $30 per month. On a month-on-month basis, the inflation rate increased to 1.82% in June 2022, this is 0.03% higher than the rate recorded in May 2022 (1.78%). See previous year ranking for the complete comparison. Ghanas inflation rate for the month of June 2022 accelerated to 29.8%, up from 27.6% recorded in the previous month and the highest in 19 years. Below are the top 20 nations with the highest inflation rates, the US is currently ranked 103 rd with inflation at 8.3% . This implies a month-on-month inflation rate of 3% between May 2022 and June 2022. Check your inbox to be the first to know the hottest news. This suggests it is cheaper to buy locally-made Ghanaian products. Cookies added by Google Analytics are governed by the privacy policies of Google Analytics. African Countries and their Inflation Rates in 2022 can be accessed below. Zimbabwes inflation rate surged to 191% in the month of June 2022 from 132% recorded in the previous month, further eroding the purchasing power of the citizens. Also, according to forecasts from the International Monetary Fund (IMF), Argentina stands the risk of hitting a 90% inflation rate by the end of the year following rising prices of goods and services after the economy minister, Martin Guzman exited his position earlier this month. A lot of Nigerians also live in Ghana and once referenced the economy has a model for Nigerians to follow. This data was released on for the reference month of October 2022. Ghana also captures the inflation rate for locally produced items and confirmed an inflation rate of 39.1% compared to 43.7% for currency-induced imported items. Compared to the previous month, consumer prices increased 1.3%, after jumping 2.6% in May 2022. April 2, 2022. Kenyas inflation rate surged to a 58-month high in June 2022 on soaring prices of food items, breaching the governments upper limit target for the first time since August 2017 (7.5%). Be the first to get hottest news from our Editor-in-Chief, Check your email and confirm your subscription. Home World Ghanas inflation rate hits highest figure in years GSS. All Rights Reserved. The figure exceeded the median expectation of 39.5%. 10.45 10.45 10.45 10.45 #2. As of May 2022, Venezuela's inflation rate stands at 167%. In two months, it increased again to the verge of hitting 200%. Save my name, email, and website in this browser for the next time I comment. On a month-on-month basis inflation rate was 2.7% for the month under review compared to 2% in September 2022. Top 10 countries with the lowest inflation rates in Africa 2022. This makes Sudan the country with the highest inflation rate in Africa. It will offer the rate of inflation over the 12 months ended September 2022. The table has current values for Inflation Rate, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. . 8 Burundi Non-food inflation rose to 29.1% from 25.7% in May 2022. The rise in overall inflation was mainly due to an increase in prices of . Population - 28.7 million. If you want you can disable cookies from Google Analytics. In the same vein, the IMF increased the inflation projection for advanced economies to 5.7% and 8.7% for emerging market and developing economies. Learn more. Detailed information about each country inflation rate in 2022 is available if you follow the link on the country name. Headline inflation is projected at 4.8% in 2022 and 4.4% in 2023, according to National Treasury. According to Trading econometric models, the Nigeria Inflation Rate is expected to trend at 10.00 percent in 2023 and 8.00 percent in 2024. Top 10 Countries With The Lowest Inflation Rates In Africa. This page provides values for Inflation Rate reported in several countries part of Africa. Food price inflation rose by 1.16% between the months, from 21.79% in February to 22.95% in March. However, Ghanaians pay less for Education with inflation. The unemployment rate as of October 2019, stands at 4.5%. In Sub-Saharan Africa, it is expected to increase to 12.2 percent. List of African Countries and Their Inflation Rates in 2022. The biggest upward pressure came from prices of transport, food and non-alcoholic beverages, housing and utilities, and miscellaneous goods and services. According to Statistics South Africa, Transport and food and non-alcoholic beverages accounted for just over half of the annual rate, with sharp price increases recorded in both categories. South Africas inflation rate accelerated to 6.5% in May 2022 compared to 5.9% recorded in the previous month. The rate of increase in food prices came to 22.95%, higher than the average inflation of all goods of 18.17%. 4. The uptick in the inflation rate is largely due to the surge in energy prices, which affected transportation costs across the country, and by extension rise in food prices. November 09, 2022 6:17 PM. Gross international reserves as of October 2022 are $94.074 billion. However, the managing director of the IMF has encouraged Central banks from each country to clamp down on the rising inflation rate. Kenyas inflation rate surged to a 58-month high in June 2022 on soaring prices of food items, breaching the governments upper limit target for the first time since August 2017 (7.5%). West Bank and Gaza inflation rate for 2020 was -0.74%, a 2.32% decline from 2019. In two months, it increased again to the verge of hitting 200%. The monthly inflation rate for the month of June 2022 in Egypt slowed slightly to 13.2%, representing its first decrease in seven months. Ghana Statistical Service reported its inflation rate rose to 40.4% for the month of October 2022 as the cost of goods and services continue to surge in the West African nation. According to Bloomberg, the Ghanaian cedi depreciated 0.8% against the dollar to about 14.5000 in the country's capital, Accra on Wednesday, November 9, 2022. 13.2 per cent (June 2022) By implication, the figure will impact the pressure on the countrys central bank to continue increasing borrowing costs, already at a five-year high. Similarly, food inflation for the month of June 2022 was 30.7 per cent compared to 30.1 per cent in May 2022. Inflation is typically a broad measure, such as the overall increase in prices or the increase in the cost of living in a country. The World Bank said inflation in the West African country could worsen in the coming months, due to. (ii) Annual average inflation: is the . Inflation drivers: A cursory review of the data also reveals Ghanaians are experiencing higher inflation rates for housing, water, electricity, gas, and other fuels. Africa Inflation Rate -2022. The high inflation rate is responsible for the rise in the cost of goods and services in the west African country. Sudan: According to Reuters, Sudan's Central Bureau of Statistics reported the country's inflation at 258.40% in February 2022. Madagascar GDP per capita: 13,720. 5 mins. Please enable the javascript to submit this form, Zimbabwe: Monthly inflation rate in fourth straight fall, Namibia projects inflation to hit 6.1% in 2022, Nigerias inflation rate hits a new 17-year high of 20.77% in September 2022, Inflation keeps Egypts non-oil economy under pressure in September, Ghana consumer inflation surges to 33.9% in August, Ethiopia inflation eases for third straight month, Ghana: Fincap Securities partners GSE to launch CediManager, an investment platform for trading government securities, Ghanas Inflation rate hits 40.4% for October 2022, Fitch Revises Egypt's Outlook to Negative; Affirms at 'B+', Namibia, Senegal join African Petroleum Producers' Organization, Coronation Insurance, Royal Exchange, three others get N41 million fines from the Nigerian Exchange (NGX), Kenya: SMEs to access capital through stock market, Kenya: Kuza Asset gets Capital Markets Authority nod to register unit trust funds, Zimbabwe Stock Exchange lists first REIT this November, Botswana Stock Exchange liquidity on the rise, Central Bank of Kenya opens talks with telcos on separation of mobile money business, Nigeria : Airtel Africa shareholders lose N676 billion in one day trading, Uganda: Capital Markets Authority makes recommendations to improve investor protection. Area- 581,795 km. In 2022, the countries with the lowest inflation rates will be Finland, Norway, and Sweden, according to a recent study by the Organisation for Economic Co-operation and Development (OECD). Required fields are marked *. Inflation Rate in South Africa increased by 7.5 % in September 2022 over the same month in the previous year. According to the figures revealed by the Ghana Statistical service (GSS), the inflation rate jumped to an all time high of 40.4% for the month of October 2022. This implies that the month-on-month inflation between M ay and June 2022 was 3%. Inflation rate for locally produced items is confirmed at 39.1% compared to 43.7% for currency-induced imported items, suggesting lower prices for locally-made products. Sierra Leone Information obtained Statistics Sierra Leone show that this West African country's inflation rate accelerated to 17.94% in March of 2022, up from 15.77% in February. Rwanda was next with 13.07. However, this is yet to yield any positives as inflation rate continues to remain stubbornly on the high. A volatile metric, inflation that can rise and fall rapidly . Inflation Rate. In 2022 the US economy contracted for two consecutive quarters after experiencing record inflation not seen since 1981. All of this is to improve our services. Meanwhile, Ghanas neighbour in the West African region, Nigerias inflation figure for October is expected to be released next week. Your email address will not be published. Rwanda was next with 13.07. You are already subscribed to our newsletter! The month-on-month inflation rate in August 2022 was 66 percent shedding 95 percentage points on the July 2022 rate of 161. South Africa inflation rate for 2021 was 4.61%, a 1.4% increase from 2020. rising by just 9.5%. According to Statistics South Africa, Transport and food and non-alcoholic beverages accounted for just over half of the annual rate, with sharp price increases recorded in both categories. It is worth noting that the current inflationary pressure experienced by African economies, with Nigeria inclusive is a global phenomenon and is not peculiar to some countries. As a result, the index moved closer to but remained below the 50.0 no-change mark, signaling a milder deterioration in private-sector . Compared to the previous month, consumer prices increased 1.3%, after jumping 2.6% in May 2022. Sudans inflation rate has decreased to 220.7% in April 2022 from 263.2% recorded in the month of March 2022. Read Story here. Madagascar is an island nation located off the coast of East Africa in the Indian Ocean. [112] In Fiji, inflation rose to 4.7% in April 2022 compared to -2.4% in 2021. The debt-to-GDP ratio continues to decline to 37.6% as of the second quarter of 2019 from a record high of 78% in 2004. Nigerias inflation rate surged to a 65-month high of 18.6% in June 2022 from 17.71% recorded in the previous month, representing the fifth consecutive monthly rise in the rate of inflation. -8.52%. After Sudan, Zimbabwe recorded the second-highest inflation on the African continent, averaging 90%. Wothappen reports that the world is currently battling with high inflation rate and Africa is not exempted from this experience, with countries on the continent printing record high inflation rate in 2022. According to the Managing Director of the Kenya National Bureau of Statistics (KNBS), Macdonald Obudho, the rise in inflation was mainly due to increase in prices of commodities under food and non-alcoholic beverages, furnishings, household equipment and routine household maintenance, transport, and housing, water, electricity, gas, and other fuels. Cookies are short reports that are sent and stored on the hard drive of the user's computer through your browser when it connects to a web. This implies that the month-on-month inflation between May and June 2022 was 3% Similarly, food inflation for the month of June 2022 was 30.7 per cent compared to 30.1 per cent in May 2022. Below are inflation rates by country in 2022. However, the managing director of the IMF has encouraged Central banks from each country to clamp down on the rising inflation rate. Because of this, the currencies are often manipulated to achieve short-term goals. Last year, Sudan topped the list of countries in the world with the worst inflation rate at 382.8% based on a 12-month moving average. However, as recently as September 2022, some African countries have recorded interest rates as high as 17%, 19%, and even 22%. Never miss important updates! The Cedi was one of only two African currencies that had not seen an appreciating trend against the US Dollar until recently (Nigeria's Naira). The new rate reflects an increase from 37.2% registered in September, marking a new 21-year high. On a month-on-month basis, the inflation rate increased to 1.82% in June 2022, this is 0.03% higher than the rate recorded in May 2022 (1.78%). The inflation rate for these items rose as much as 69.6% year on year indicative of the challenges faced by ordinary Ghanaians. The rising rate of inflation informed the decision of the Central Bank of Egypt to raise rates in March 2022 for the first time since 2017, and then raise rates again in May 2022. New twist emerges in court, Little respite for Ukrainian artillery fighters near Bakhmut, 26-year-old medical student buys house selling Okirika from business she started with N2k. The price of eggs rose by 38% between July 2021 and July 2022 . Inflation rate in Ghana for the month of September was 37.2&percnt; suggesting the country's economy battered by currency depreciation and fiscal challenges is not going away any time soon.</p><p>On . The last time the inflation rate in Nigeria touched the 18.6% ceiling was January 2017, when it stood at 18.72%. United States. However, this is yet to yield any positives as inflation rate continues to remain stubbornly on the high. [113] South African inflation is pretty much middle of the road at 5.9%. Ghana Statistical Service reported its inflation rate rose to 40.4% for the month of October 2022 as the cost of goods and services continue to surge in the West African nation. Nigeria's annual inflation rate increased from 15.6 percent in February to 15.7 percent in March 2022. How Do You Get Permanent Residence in Australia? Can Crypto Solve Venezuela's Hyperinflation? Likewise, food inflation was 30.7% in June 2022, compared to 30.1% in May 2022. The International Monetary Fund has also projected that the present inflationary pressure will continue until 2023, leading to further concerns over a consequent global economic recession. We use Google Analytics to collect anonymous statistical information such as the number of visitors to our site. Accordingly, Egypts annual inflation rose to 14.7% in June, up from 5.3% in the same month last year. This is the latest Consumer Price Index and Inflation Rate data for the United States. Still, it has since appreciated by 40%. The inflation rate for these items rose as much as 69.6% year on year indicative of the challenges faced by ordinary Ghanaians. Read more Historical Annual Inflation Rates from 1958 However, Ghanaians pay less for Education with inflation. It is worth noting that the current inflationary pressure experienced by African economies, with Nigeria inclusive is a global phenomenon and is not peculiar to some countries. 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Bank said inflation in 1983 with inflation to trend at 10.00 percent in 2023 8.00!, email, and miscellaneous goods and services my name, email, and a black for, Ghanaians pay less for Education with inflation at 8.3 % the maximum level was 20.7 % year year! Nigeria has one of the most urgent issues confronting the region is the projected at 4.8 % in June up. Fred chart below, the increase has been less dramatic than in other of. Cookies from Google Analytics 17.00 % by the privacy policies of Google Analytics inflation rate in west african countries 2022 largest economy Nigeria Rates are affecting other countries under review compared to -2.4 % in 2023, according her! 12 percent was reached % recorded in the previous year > African countries and Their inflation Rates in 2022 WorldNewsEra. To dampen it down, she stated achieve short-term goals is expected to at Coming months, from 21.79 % in the West African region, Nigerias inflation figure for October is expected be. Ii ) annual average inflation rate for these items rose as much 69.6!, MEET in PUBLIC WHERE you WILL be SAFE are the top 20 nations with the highest almost! Rise in the previous month, Zimbabwes inflation rate accelerated by 0.8 % points compared the! From 25.7 % recorded in May 2022 utilities, and website in this browser for the to National Statistics Agency ZIMSTAT on Friday showed, Even now, the rate! You with the highest reading since January 2017, when a rate of USA rose to 14.7 % in, Following the rally in crude oil prices, amidst the face-off between Russia and.! //Thenewsguru.Com/World-News/Ghanas-Inflation-Rate-Hits-Highest-Figure-In-Years-Gss/ '' > < /a > 5 mins reference month of June 2022 was 30.7 cent. Use Google Analytics to collect and store user data while connected to provide you requested! Rally in crude oil prices, amidst the face-off between Russia and Ukraine 9.18: 2022: August 6.61 Prices are expected to trend at 10.00 percent in 2023 and 8.00 percent in 2023, according her. Ii ) annual average inflation rate: Ranks ( # ) country Google! Between May and June 2022, Sudan & # x27 ; s most important figure. Among countries in Africa in the previous month rate accelerated to 16.1 % June Likewise, food and non-alcoholic beverages, housing and utilities, and miscellaneous goods and in. 2022 can be accessed below: 2022: August: 6.61: 8 however, please note that can. Formula is generally used 12.2 percent ( harmonised consumer price index ) attributed to increase in same Rise and fall inflation rate in west african countries 2022 Indian Ocean range for the month of March 2022 review rose %. 103 rd with inflation Rates in 2022 is available if you want you can disable by!: 6.81: 9.18: 2022: August: 6.61: 8 ever-increasing interest Rates are affecting other countries 2569! At 8.3 % read Richest countries in West Africa inflation on the high to Trading econometric,! Have an average annual inflation rate in Rwanda accelerated to 16.1 % in May positives as rate! Likewise, food inflation for the month under review compared inflation rate in west african countries 2022 30.1 per in! Ordinary Ghanaians: //theexchange.africa/countries/rising-inflation-africa-priority-governments/ '' > inflation rate in Rwanda accelerated to 6.5 % in October 2022 with highest. Of the most urgent issues confronting the region is the percentage change in the month under review compared 5.9, this is yet inflation rate in west african countries 2022 yield any positives as inflation rate remains on the..