Browsing: food prices

Kenya’s high-interest rates hit 13 per cent in the last review by the Central Bank of Kenya. Since mid-2023, however,…

Kenya’s economic resurgence in 2024 proving a reality following a notable upturn in recent months, marked by positive indicators across…

The increasing food prices have majorly occasioned the rise in consumer expenditure.  In the review period, 50 per cent of…

The Malnutrition Crisis in Africa has seen 63 million children stunted, 10 million overweight, and three million wasted. Dr. Akinwumi…

With the cost of living ranking done in terms of countries’ major cities, Kenya’s Nairobi has been ranked position 141…

The annual inflation rate for February 2023 increased by 7.2 per cent compared to 4.5 per cent recorded in February…

Time is running out for Africa to guarantee food security for its population. As the saying goes, it is not very reasonable to keep doing the same things and expect different results.

Africa needs crops that can withstand pests and disease, withstand drought, flourish without excessive pesticides and fertilizers, and produce healthy food. Africa needs crops to enable smallholder farmers to prosper. GMOs provide a powerful instrument for Africa to address these demands when other choices fail over time.

Some worry that monetary policy is still excessively accommodating, given that rate hikes have not matched inflation. Policy cooperation may be beneficial. Fiscal consolidation and a mix of rate rises and currency depreciation may play a role in nations where policy is overly permissive.

The shaky recovery in Sub-Saharan Africa, coupled with domestic demand constraints, has not significantly fueled inflation so far. However, in the coming months, governments and policymakers must carefully monitor and prioritise tackling the rising inflation in Africa.

The agricultural transformation in Sierra Leone has demonstrated that delivery changes in traditional sectors may significantly impact food production when implemented effectively and under the appropriate circumstances.

A currency crisis is defined as a quick and abrupt depreciation of a country’s currency. Currency depreciation goes in tandem with turbulent markets and a loss of confidence in the country’s economy. Historically, crises have arisen when market expectations induce significant movements in the value of currencies.

The global economy is now in turmoil. As the world economy enters another era of a currency crisis, the value of the US dollar keeps rising. Over half of all international trade is billed in dollars. A stronger dollar thus hurts consumers globally, particularly in Africa, who rely on dollars to pay for imports.

The US Federal Reserve’s hawkish approach to increasing interest rates more aggressively than central banks in other major countries has contributed to the dollar’s appreciation. The fact that investors generally see the dollar as a “safe haven” asset during times of economic turmoil has added to its resilience.