Kenya: Inflation jumps to over five-year high in October October 31, 2022 Inflation came in at 9.6% in October, which was up from September's 9.2%. What is Inflation? inflation is a positive value in the inflation rate and means a general decrease in purchasing power for the domestic currency in the country in question and a general increase in prices of goods and services compared to the currencyif the inflation rate is negative, that indicates deflation, a general decrease in prices of goods and services The IMF also forecasts that current inflationary pressures will persist into 2023, which could raise further fears of a global recession. In, AfDB. US Inflation in 2022 In 2022 the US economy contracted for two consecutive quarters after experiencing record inflation not seen since 1981. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page. You need a Statista Account for unlimited access. CAN Responded On top of Bishops At APC Running Mate Unveiling Sodiq Abubakar Yusuf CDQ voiced out economic suffering in Nigeria. Food inflation rose to 20.6% in June 2022 from 19.5% in May 2022, and core inflation rose to 15.75% from 14.9% the previous month. For the first time in more than five years, interest rates rose above the central banks target range. Statistics on Consumer Price Index (CPI), food inflation and Harmonised Consumer Prices. The following table has current rates and values for previous years. 13.2 per cent (June 2022) Botswana: 12.7 per cent (2022) Kenya: 7.9 per cent (June 2022) Read also The inflation rate for consumer prices in Zimbabwe moved over the past 41 years between -2.4% and 24,411.0%. Africa inflation rate for was 0.00%, a 0% increase from . Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. If you are an admin, please authenticate by logging in again. In addition, the International Monetary Fund (IMF) predicted that Argentina could hit 90 percent inflation by the end of the year, after the economy minister said prices of goods and services had risen. U.S. . Let's stay updated! The continent loses between 5% and 15% of gross domestic product to climate change. As of 2022, it is the fourth-largest economy in Europe, the world's ninth-largest economy by nominal GDP, and the sixth-largest by PPP.. Russia's vast geography is an important determinant of its economic activity . South Sudan. We have a plan for your needs. The following table contains recent YoY (Year-over-Year) and MoM (Month-over-Month) values. Click See First under the Following tab to see Legit.ng News on your Facebook News Feed! Mozambique (17.25): Mozambique has a current interest percentage point of 17.25, increasing by 4 points since the year began. PAY ATTENTION: Click See First under the Following tab to see Legit.ng News on your Facebook News Feed! Statista. November 3, 2022. South Africa: cpi: 3.057 % CPI South Korea: South Korea: cpi: 0.613 % CPI Spain: Spain: cpi-0.532 % CPI Sweden: . When there is an expectation that a particular inflation will continue there is a need for an increased wage for workers so their normal day-to-day status can be maintained, this also affects the consumer goods prices or services being produced by labor and an increase in price is experienced. (March 25, 2022). However, it is still high. You are already subscribed to our newsletter! Industry-specific and extensively researched technical data (partially from exclusive partnerships). However, the head of the International Monetary Fund has urged central banks to curb rising inflation. Chart. Read more Historical Annual Inflation Rates from 1958 For Ethiopia, this means that achieving fiscal balance and control of the document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); NaijaXtreme is an African News and Entertainment platform where the latest updates on rankings, reviews, travel, business & finance are published. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. This page provides values for Inflation Rate reported in several countries. Experts suggest smarter ways to fight back against cyber threats, as CBN commends technology. We expect even lower inflation, of 3.7% based on softer economic growth than the SARB is projecting for 2021 (at 2% versus 3.8%), which makes its record-low policy rate of 3.5% sustainable. For 2021, an inflation rate of 98.5% was calculated. .. Inflation in Zimbabwe rose from 132% last month to 191% in June 2022, further reducing the purchasing power of its citizens. Register in seconds and access exclusive features. According to Macdonald Obdo, managing director of the Kenya National Bureau of Statistics (KNBS), inflation is mainly driven by food and non-alcoholic beverages, furniture, household appliances and regular household maintenance. Over 40 Those who have BMI over 40 are considered extremely obese. of evidence argues in favor of monetary factors and against the output gap as the main source of inflation in 17 African countries. US gas prices fall below $4 for first time since March. Inflation Rates (i) 12-month inflation: normally considered as inflation rate, is defined as the percentage change in the monthly consumer price index (CPI). Prices, transportation, accommodation, water, electricity, gas and other fuels. It rose again two months later, reaching 200%. Inflation cooled to 5.7% in January, down from December's over four-year high of 5.9%. Aug 1, 2022 Inflation in Sub-Saharan Africa was set to reach 12.2 percent in 2022, after increasing steadily from 2020 onwards. That's according to a new survey of the continent's leading insurance professionals, conducted by the pan-African reinsurer, Continental Reinsurance. when the cost of getting raw materials or ingredients for production increases definitely the prices the final product will be put out will increase also so consumers buy at higher prices. This is what I did with N25 Million from BBNaija NBC shuts AIT, STV others over N2.6bn debt, Senate Confirms Olukayode Ariwoola As Chief Justice of Nigeria, Best Stock That Deserves Your Attention Today, Again: Naira falls to N698/$1 at black market, Ways to Control Stress and Doubt as an Entrepreneur, Expert Emphasized 3 Things Every Businesses Needs to Grow. Grow under maintenance. Advanced users can use our Python/R/Matlab packages. Top 10 Countries With The Lowest Inflation Rates In Africa. Omaha, NE 68106. FocusEconomics Consensus Forecast panelists see inflation averaging 4.6% in 2022, which is Error! Mind you, we cannot keep on talking about inflation without talking about the three inflation indexes, we have the Consumer Price Index (CPI), the Wholesale Price Index (WPI), and also we have the Producer Price Index (PPI). 1 / 2. The persistence of inflation has had important repercussions for African countries, affecting economic performance in a variety of ways. Read more Nigeria: Inflation surges to 17-year high in September October 20, 2022 Inflation rose to 20.8% in September from 20.5% in August. Inflation rose 0.8 percentage points from 7.1 percent in the previous month. South Sudan: This country's inflation rate stands at 40%, making it the third highest in Africa. 25-29 Those who have a BMI of 25 to 29 are considered overweight. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Inflation is the slow/rapid increase in the prices of goods and services in a countrys economy. The current inflation rate in South Africa is 7.80%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in September 2022. In September 2022, the monthly inflation rate was 0.84. The world is currently battling high inflation, and Africa is no exception, with printing nations on the continent recording high inflation in 2022. Legit.ng reported that the World Bank says Nigerians got richer in 2021 as their Gross National Income per capita surged by 5 per cent to about $5,250 per capita in 2021 in comparison to the same period of $5,000 in 2020. On a monthly basis, inflation rose to 1.82% in June 2022. 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Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. . Gross National Income is the total income earned by a countrys people and businesses, including economic aid and investment income, irrespective of where it was earned. The annual inflation rate for the United States is 8.3% for the 12 months ended August 2022 after rising 8.5% previously, according to U.S. Labor Department data published Sept. 13. Inflation in Sudan fell from 263.2% in March 2022 to 220.7% in April 2022. Africa's inflation set to rise in 2022 Increases in consumer prices vary widely among countries in Africa. Sudden deflation increases the value of a country's money, enabling more goods and services to be purchased with the same amount of currency. No matter how little the inflation amount is it will have some effect on the economy of a country, it serves as a signal that the economy is increasing or decreasing. This implies a month-on-month inflation rate of 3% between May 2022 and June 2022. Standchart pledges its commitment to continue investing in various sectors to support and drive economic growth. Despite recent global volatility, Zambia has been fortunate to have maintained a stable inflation rate. These positive economic factors show that Zambia is on the right path to economic recovery. This was the highest level since January 2017 at 6.6%. All values are the annual percent change in CPI (Consumer Price Index) compared with the previous year, expressed in '%'. Read more. Africa's largest economy, Nigeria had one of the highest inflation rates in the world in 2020. Bloomberg reports that African central banks are intensifying their fight against debilitating inflation and currency weaknesses. $15.2 billion (2.77% of GDP, 2022 est.) Manage Settings Get full access to all features within our Corporate Solutions. Direct access to our data from your apps using any programing language. 2022 NAIJAXTREME | Designed and Managed by NaijaXtreme. Summary of inflation figures for 2020 Inflation figure: country / region: . Likewise, the International Monetary Fund raised inflation expectations in developed countries to 5.7% and in emerging and developing countries to 8.7%. Inflation rate in Ethiopia is 33.5% This is the second consecutive drop. By 2022, the rate was projected at its highest in East Africa, at 24 percent. The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. Angola (19.50): This North African country has an interest percentage point of 19.50, but has reduced by 0.50. But thats not yet a plus, as inflation remains stubbornly high. Below 24 Additionally, higher mortality rates in hospitalized patients and community- dwelling elderly are associated with individuals who have low BMI. In May 2022, inflation in South Africa rose to 6.5%, compared to 5.9% the previous month. Namibia: Namibia has an interest rate of 5.50 percentage points and has grown by 1.75. Last year, Sudan topped the world with an inflation rate of 382.8%, based on a 12-month moving average. Hyperinflation strikes Lebanon Again South Africa should invest more time and research in learning about coalition governments, deputy finance minister David Masondo said on Tuesday. Learn more about how Statista can support your business. Africa is a continent filled with intelligent and strong people but there is a big problem with this continent when it comes to selecting good leaders. To calculate cumulative rates between two different periods, you can use the New Zealand Inflation Calculator. One of Africa's most pressing concerns is the need to address decade-high inflation levels that are wreaking havoc on food security and income security while simultaneously fostering. statistic alerts) please log in with your personal account. Year-on-year inflation means that individuals buy goods at the percentage of inflation figures prevalent in their countries. When there is more or excess inflation the prices of things increase faster than the wages and this, in turn, makes the countrys currency lose its value in the international market. In January 2021, the inflation rate in Nigeria's urban areas increased by 17 percent over the preceding months, while the rural inflation rate increased by 15.9%. The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE . No Alerts & Closings in Your Area Sign Up to Get Future Alerts. 0%. This page contains Inflation Rate values reported in several countries. Ecuador Inflation Rate Slows to 4% in October, Mexico Inflation Remains Near 2-Decade High, Ghana Inflation Rate Hits New 21-Year High, Tanzania October Inflation Rate Hits 5-Year High, Hungary Inflation Rate Rises to 26-Year High, China Inflation Rate Falls More than Expected, Bangladesh Inflation Rate Slows for 2nd Month, Albania Inflation Rate Accelerates in October, Chile Inflation Eases for Second Straight Month, Bovespa Sinks Following Bad Earnings from Bradesco, Mexbol Turns Downward After Inflation Report, Canada TSX Declines with Commodities, CPI Uncertainty, Poland Holds Interest Rate Steady for 2nd Meeting. Actor Enyinna Nwigwe Laments On The Effect Of Kemi Olunloyo tackles Chioma over revealing outfit, and Kanye West Escorted Out Of Skechers Building As Anikulapo: I had to speak a language I BBNaija S7: Phyna Wins Big Brother Naija Season NASU urges FG to Pay salary arrears for the period of strike, Fire burnt N8bn property in Cross River Fire Service, Kanye West Escorted Out Of Skechers Building As He Appears Uninvited, Anikulapo: I had to speak a language I wasnt comfortable speaking Kunle Remi. He was referring to the lack of state capacity and how it contributes to slow economic growth in the country. Sudan haS the highest inflation in Africa as of 2022.