Economic Snapshot for Sub-Saharan Africa
June 22, 2022
GDP growth will cool in 2022
Regional economic growth should cool this year. The impacts of higher commodity prices due to the war in Ukraine—greater inflation and a bigger import bill—will weigh on activity. Household consumption is further dented by high unemployment. Moreover, the war will also balloon public debt ratios and could place many countries on the brink of debt distress.
Inflation to rise in 2022
Preliminary data showed that regional inflation rose to 15.6% in May from 14.6% in April . Consumer prices have been pushed up by elevated commodity prices, particularly for grain, fertilizers and oil due to the war in Ukraine. Countries that are net food and fuel importers will particularly suffer, while adverse weather and disrupted trade could exacerbate food insecurity.
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5 years of Sub-Saharan Africa economic forecasts for more than 30 economic indicators.
Sub-Saharan Africa Economic News
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Nigeria: Inflation rises in May
June 17, 2022
Consumer prices rose 1.78% month on month in May, up from April’s 1.76%.
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Angola: Cabinda prices rise in May
June 14, 2022
The average price for Cabinda oil rose to USD 114.6 per barrel (pb) in May, up from April’s USD 106.5 pb.
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Angola: Luanda inflation eases in May
June 14, 2022
Consumer prices in Luanda increased 0.78% in May over the previous month, ticking down from the 0.97% rise logged in April.
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Kenya: Inflation rises further in May
June 14, 2022
Consumer prices rose 0.78% month on month in May on a seasonally-adjusted basis, down from April’s 1.69% increase.
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South Africa: Manufacturing production records largest decrease in six months in April
June 9, 2022
Manufacturing output collapsed 5.4% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom).
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