Economic Progress

Why inflation is one of Africa's most pressing challenges - and how to tackle it

The median of inflation rates across the region increased to almost 9% in August, according to the IMF. Image: Unsplash/Rob

Marijn A. Bolhuis

Economist, International Monetary Fund

Peter Kovacs

Economist, IMF

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Higher prices of food and tradable goods account for the bulk of rising inflation in sub-Saharan Africa
Higher prices of food and tradable goods account for the bulk of rising inflation in sub-Saharan Africa Image: Haver Analytics, IMF
Central banks across the region had already started raising interest rates in response to rising inflation, capital outflows and currency depreciation resulting from monetary policy tightening in advanced economies
Central banks across the region had already started raising interest rates in response to rising inflation, capital outflows and currency depreciation resulting from monetary policy tightening in advanced economies Image: Haver Analytics, IMF
List showing Economic forecasts of Sub-Saharan African with GDP growth in percentages inflation
From 2021 to 2022, Sub-Saharan Africa's GDP growth decreased by more than 1%. Image: IMF
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Related topics:

Economic ProgressFinancial and Monetary SystemsAfrica

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