Economic Snapshot for Sub-Saharan Africa
September 22, 2021
Regional economy to expand in 2021
Economic activity is set to firm next year as lockdown measures are rolled back further. Upbeat commodity prices and greater investment should also buoy the regional economy. However, a still-low vaccination rate remains the key risk to the regional outlook, while strained public finances, social unrest and an expected rise in unemployment further cloud the outlook.
Inflation to moderate in 2021
Preliminary data showed that regional inflation inched up to 12.4% in August from 12.3% in July. This was influenced by stronger price pressures in Angola, Ethiopia, Ghana and Mozambique, offsetting cooling inflation in Botswana, Nigeria, Uganda and Zambia. Regional inflation should ease next year amid normalizing economic conditions and easing supply chain disruptions.
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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 ticks down to seven-month low in August
September 16, 2021
Consumer prices rose 1.02% in August, up from July’s 0.93% increase.
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Ghana: Inflation hits five month high in August
September 15, 2021
Consumer prices rose a seasonally-adjusted 0.27% from the previous month in August, waning markedly from July’s 1.63% increase.
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Angola: Cabinda prices drop to three-month low in August
September 13, 2021
Average Cabinda oil prices fell to USD 70.9 USD per barrel (pb) in August, from July’s USD 75.8 pb.
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Angola: Inflation comes in at highest level since June 2017 in August
September 12, 2021
Consumer prices increased 2.30% over the previous month in August, accelerating from the 2.28% rise seen in July.
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Kenya: GDP rebounds in Q4 2020
September 9, 2021
According to a recent release by Kenya’s Statistical Institute, GDP expanded 1.2% in annual terms in the fourth quarter of 2020, contrasting the 2.1% contraction tallied in the prior quarter, and expanding for the first time since Q1 2020.
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