- Business Insider Africa presents 10 African countries where inflation improved the most since the year began.
- This list is courtesy of Trading Economics, a data platform that offers its customers precise data for 196 nations.
- The list below represents countries that have experienced the most significant change in their inflation values from January to July, as opposed to highlighting the countries with the lowest inflation rates currently.
When an economy experiences devaluation, it is likely to feel some degree of relief depending on how rapidly the number improve, similar to how inflation typically generates economic hardship.
Every given administration on the globe is tasked with the responsibility of making sure their economy threads in the right direction. Naturally, governments across the world would prefer to work towards devaluation as opposed to the other end of this spectrum. As a result, each year, these administrators come up with objectives designed to set their fiscal trajectory in towards the right part, to be achieved periodically, including each quater, mid-year, end of month, end of year and others.
This struggle is no different in Africa, where a number of countries are grappling with numerous internal and external factors that either significantly or slightly affect fiscal growth. While some countries handle these issues with clumsy policies, others have mitigated said crises with grace and ingenuity, which in turn has brought some economic relief to its citizens.
In light of this, it is impressive to note that most African countries since the start of the year have gotten their inflation figures down. While it is uncertain if they’ve achieved their target, it is still laudable that they are experiencing some economic improvements in the midst of a near-global recession. This article highlights African countries with the most impressive imporvments in their inflation rate.
The list below represents countries that have experienced the most significant change in their inflation values from January to July, as opposed to highlighting the countries with the lowest inflation rates currently.
Aditionally, the list is 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.
| Rank | Country | January Inflation | July/June Inflation | Inflation differential |
|---|---|---|---|---|
| 1. | Rwanda | 31.1% | 17.3% | 13.8% |
| 2. | Ghana | 53.6% | 43.1% | 10.5% |
| 3. | South Sudan | 13.4% | 5.6% | 7.8% |
| 4. | Botswana | 9.1% | 1.5% | 7.6% |
| 5. | Burkina Faso | 8.2% | 0.7% | 7.5% |
| 6. | Uganda | 10.4% | 3.9% | 6.5% |
| 7. | Mauritiana | 10.3% | 4% | 6.3% |
| 8. | Mauritius | 11.8% | 5.9% | 5.9% |
| 9. | Ethiopia | 33.9% | 28.8% | 5.1% |
| 10. | Cape Verde | 7.4% | 2.6% | 4.8% |
Source: Africa Business Insider