• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

7 most expensive African countries to live in due to high inflation rates

4 years ago
in Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
122
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

7 most expensive African countries to live in due to high inflation rates

Global economists told Bloomberg that the biggest danger to the economy in 2022 would be inflation, not the COVID-19 pandemic with its different variants. Now, that’s surprising and quite interesting!

But perhaps that is not much of a surprise after all. Inflation has always been known to be one of the biggest enemies to wealth creation. And that’s because it silently [but consistently] erodes the value of money. Across Africa, inflation is an ever present problem, although many of those it affects are unawares of it. But they do feel its effect in the form of high prices, expensive food items, etc.

In this article, we shall be focusing on 10 most expensive African countries due to their inflation rates. However, before we proceed, we have some more information for you about what inflation is all about.

What is inflation?

According to Investopedia, inflation occurs when there is a significant decline in the purchasing power of a currency. It can be measured by the rate at which the prices of goods and services rose within a particular period. A sharp increase in the cost of raw materials is often one of the primary causes of inflation. A surge in demand for goods and services can also trigger an upsurge in prices, thus leading to high inflation.

Common trend among countries with high inflation rates

RelatedPosts

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

Summer 2025 Transfer Window: Record-Breaking Moves Reshape European Football

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure

One trend that is common among African countries with high inflation rates is that they are mostly import-dependent. When a country imports more than it exports, it inevitably becomes susceptible to various economic challenges, including weak exchange rates and high inflation rate which, in turn, makes everything expensive.

Read: Global shipping costs are moderating, but pressures remain

Africa’s most expensive countries due to high inflation

Whereas inflation is a general problem across the continent, some countries have it worse. And living in these countries can be quite expensive.

See the list below and do note that we used data derived from very reliable sources, including Statista, Reuters, Bloomberg etc. Also note that inflation rates are not constant. So, if you are reading this at a later date, chances are the rates might have changed.

  • Sudan: The Republic of Sudan, which is located in the Northeastern part of the continent, has the highest inflation rate on the continent. According to Reuters, the country’s inflation rate stands at a staggering 387.56%
  • Zimbabwe: At 56% inflation rate according to Bloomberg, Zimbabwe has the second highest in Africa.
  • Ethiopia: This country in the Horn of Africa saw its inflation rate rise to 34.2% in October 2021, according to Reuters. The ongoing war in the country has affected the economy.
  • Angola: Angola has the fourth highest inflation rate in Africa at 29.7%.
  • South Sudan: The inflation rate in this country stands at 29.68%.
  • Zambia: This country has an inflation rate of 16.4% according to Bloomberg.
  • Nigeria: Africa’s biggest economy has an inflation rate of 15.99%.

Source: businessinsiderafrica
Via: norvanreports
Tags: 7 most expensive African countries to live in due to high inflation ratesCovid-19inflationweak exchange rates and high inflation rate
No Result
View All Result

Highlights

Sidi Ould Tah Assumes Office As 9th President of the African Development Bank Group

Angola to Begin Fuel Production at First New Refinery in 50 Years

Fuel Prices Adjust Across Pumps as Cedi Depreciation Offsets Global Oil Decline

BoG Forex Rules Aiming to Ease Dollar Demand, Shift Exchange Burden to Residents – Dr Theo Acheampong

Black Stars Begin 2026 World Cup Qualifying Campaign with Training in Accra; Set to Depart for Chad Today

Qatar Seeks to Deepen its Influence in Africa With $103bn Investment Pledge

Trending

Business

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield

September 2, 2025

Central Bank Raises GH¢2.34bn in Short-Term Bill Sale at Nearly 25% Yield The Bank of Ghana sold...

Summer 2025 Transfer Window: Record-Breaking Moves Reshape European Football

September 2, 2025

Chamber of Mines Cautions Government Against Halving Mining Lease Tenure

September 2, 2025

Sidi Ould Tah Assumes Office As 9th President of the African Development Bank Group

September 2, 2025

Angola to Begin Fuel Production at First New Refinery in 50 Years

September 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.