10 African countries with the lowest inflation projections for 2024

In the recent economic estimates highlighted by the African Development Bank, several African countries are poised to have low inflation rates. While inflation has long been viewed with apprehension in economic discourse, the current projections paints a positive picture for most.

These projections herald a new era of economic vitality and opportunity for the continent.

In a report titled Africa’s Macroeconomic Performance and Outlook 2024, the African Development Bank highlighted the economic trajectory of the African economy via projections for several economic indicators of each African country.

The report painted a rosy picture of Africa’s economic growth as it stated that “Africa will account for eleven of the world’s 20 fastest-growing economies in 2024.”

While the continent has struggled with issues such as currency depreciation, global warming, and rising costs of living, amongst others, this year promises some recovery.

Historically, Africa has grappled with a myriad of economic challenges, including high unemployment rates, inadequate infrastructure, and fluctuating commodity prices.

Amidst these challenges, maintaining stable inflation rates has been an ongoing struggle for many African economies. However, the tide appears to be turning, as several initiatives across the region have been designed to contribute to the positive inflation projections on the horizon.

With that said, here are the African countries with the lowest projected inflation levels for 2024, according to the African Development Bank’s report.