South Sudan, Malawi… only 7 African countries have worse inflation than Nigeria

Of the 54 countries in Africa, only seven countries have a worse inflation problem than Nigeria as at May 2016.


The countries are South Sudan, Malawi, Mozambique, Ghana, Zambia, Central African Republic, and fellow oil-producing country, Angola.

According to data gleaned by Trading Economics from the continent, inflation in these countries range from 290.3 percent in South Sudan to 18.27 percent in Mozambique.

This means, 46 countries in Africa have a better inflation situation than Nigeria in 2016, with inflation in Nigeria rising to six-year high in May, 2016.

“In May, the Consumer Price Index (CPI) which measures inflation recorded a relatively strong increase for the fourth consecutive month. The Headline index increased by 15.6% (year-on-year), 1.9% points higher from rates recorded in April (13.7%),” NBS said on Tuesday.

“The increase in rates in May relative to April reflects an overall increase in general price level across the economy as all divisions which contribute to the Headline index increased at a faster pace in May.”

source: nigerianeye