A recent report by the United Nations has shed light on the persistent challenge of food inflation across various African nations in 2024.
The report highlights the economic strains faced by these countries due to factors such as weakening domestic currencies and disruptions in food supplies.
According to the report, the following are the top 10 African countries experiencing the highest food inflation rates in 2024:
In countries where food inflation is low, the report noted that the lower inflation in Sub-Saharan Africa could be attributed to the normalisation of global supply chains, the steady decline in commodity prices, and the effects of monetary tightening and fiscal consolidation across countries.
On the contrary, double-digit year-on-year food inflation rates were experienced in Ethiopia, Malawi, Nigeria, Sierra Leone, and Zimbabwe.
Also, elevated food prices tend to have a more than proportional effect on the budgets of lower-income households.
