Browsing: food inflation in Africa

• Zimbabwe is the worst hit in Africa with food inflation at 26% YoY, followed closely by Egypt at 18%, Malawi at 9%, and Guinea at 7%.
• The persistent weakness of the Zimbabwe dollar has been a driving force behind the steep price growth throughout 2023.
• Real food inflation, calculated as the difference between food inflation and overall inflation, provides a dire picture of the strain on households’ budgets in these countries.

The economies of Zimbabwe, Egypt, and Guinea are facing significant challenges due to soaring food inflation, placing them among the top 10 countries globally most affected by this roiling crisis.

According to the World Bank’s February 2024 update, Zimbabwe leads the pack in Africa, with food inflation at a staggering 26 per cent year-on-year, followed closely by Egypt at 18 per cent and Guinea at 7 per cent.

Real food inflation, calculated as the difference between food inflation …

• General cost of living in Africa has increased driven by food inflation.
• Researchers project a possible decline in food prices in 2024.
• Food security in Africa is threatened by possible escalation of conflict in Gaza.

The cost of living in Tanzania is steadily increasing, driven by the rise in the prices of basic foods. As of August 2022, Tanzania’s food inflation was reported at 7.8 per cent by the World Bank. The inflation rate worsened, reaching a peak of 9.7 per cent as of December 2022.

“This upward trajectory of food prices persisted into January 2023, where the food inflation rate reached 9.9 per cent,” reports Tanzania Investment and Consultant Group Ltd (TICGL), an economic research institute.

Food inflation is not only affecting East Africa but also most of the rest of the world. The World Bank states, “Inflation higher than 5per cent is experienced in 63.2 per cent of …