Inflation soars in Zimbabwe

The country’s central bank made the announcement in early May: “Zimbabwe’s annualized inflation jumped 23.7 percentage points to 96.4% in April,” reports the site African Manager. The economic news site cites the Reserve Bank of Zimbabwe and the African Press Agency Apa News, whereby “the recent rise in monthly inflation rose from 7.7% in March to 15.5% in April, and the rise in annual inflation rose from 72.7% in March to 96.4% in April ”.

The agency said prices of most foodstuffs have risen sharply since the end of March due to the sharp depreciation of the Zimbabwean dollar.

Widespread inflation in Africa

The southern African country is not alone in experiencing problematic inflation. Madagascar thus expects inflation of 8% by the end of the year, announcement Madagascar Grandstand. Same figure for South Africa, according to Afrimag, which indicates that this increase is part of a context marked by the global impact of the conflict between Russia and Ukraine and the increase in interest rates by the American central bank (FED).

For the member countries of the West African Economic and Monetary Union (UEMOA), the inflation rate reached 6.6% in March, indicates the agency Ecofin. Within WAEMU, Burkina Faso has double-digit inflation. “This rate went from 10.1% to 13.5% between February and March. It is followed by Togo (8.8%), Mali (8.3%), Guinea-Bissau (6.8%) and Senegal (6.2%). Niger, for its part, records inflation at 5.3%, while inflation in Côte d’Ivoire is at 4.5%”, details the agency.

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