Tag: Inflation

INFLATION IN AFRICA

INFLATION IN AFRICA

Business, Domains
INFLATION IN AFRICA INFLATION is the increase in prices over a given period. In Africa, Sudan had the highest inflation as of 2022. The rate reached roughly 245 percent, according to the source's estimates. Inflation in Africa is driven by the pressure of the economic crisis and political instability. Inflation in Sub-Saharan Africa was set to reach 12.2 percent in 2022. In North Africa, prices also increased constantly from 2020 to peak in 2022. It has become a nightmare for Africans. Economies worldwide, including those in Africa, still deal with supply disruptions caused by the coronavirus (COVID-19). Reasons for inflation are the price of imported goods and the price of petrol. An increase in petrol leads to an increase in transport costs, which will impact the cost of all