February’s Inflation Trends Across the African Continent

LAGOS (Capital Markets in Africa) – Angola’s consumer inflation edged down to 39.45% year-on-year in February from 40.39% in January, data from the statistics office showed. On a monthly basis, consumer prices increased 2.59% compared to 2.25% in January.

Botswana’s consumer inflation quickened to 3.4% year-on-year in February from 3.1% in January. Prices rose 0.2% month-on-month compared to 0.4% previously, Statistics Botswana stated.

Burundi’s year-on-year inflation rate climbed to 20.7% year-on-year in February from 12.9% in January, driven by rising food prices in local markets. Food inflation accelerated to 34.4% year to-year in February from 20.1% year-to-year in January.

Egypt’s annual urban inflation soared to 30.2% year-on-year in February, its highest level in more than three decades, the statistics agency CAPMAS reported. Also, it is the highest inflation rate since November of 1986 and was the fourth consecutive jump since November 2016.

Ethiopia’s consumer inflation gained 7% year-on-year in February, from 6.1% in January. On a monthly basis, consumer prices rose 0.7%, compared with a 0.6% gain in January

Ghana’s annual consumer price inflation fell to 13.2% year-on-year in February from 13.3% in January. The February inflation rate was the lowest since December 2013. Food inflation rose to an annual 7.1% in February.

Kenya’s inflation rate jumped in February to 9.04% year-on-year from 6.99% in January. Month on month it rose to 1.80% from 1.00%, the Kenya National Bureau of Statistics (KNBS) stated.

Malawi’s consumer inflation slowed to 16.1% year-on-year in February from 18.2% in January, official data from the National Statistical Office showed.

Mauritius consumer inflation rose 1.27% year-on-year in February, from 1.75% increase in January. It was the lowest inflation rate since September 2016. On a monthly basis, consumer prices rose 1.3%, after increasing 0.8% in January.

Morocco’s consumer price inflation eased to an annual 1.3% in February from 1.6% in January, the High Planning Authority, stated. On a month-on-month basis, the consumer price index edged up to 0.4% in February from 0.3% in January.

Mozambique’s consumer inflation edged up to 20.88% year-on-year in February from 20.56% in January, according to data from the statistics agency.

Namibia’s consumer inflation slowed to 7.8% year-on-year in February from 8.2% in January, which was its highest level since October 2009, Namibia Statistics Agency stated. Due to the slowdown in price increases for alcoholic beverages and tobacco.

Nigeria’s inflation rate bucked the trend in February to fall to 17.78% year-on-year, its lowest level in 15 months, driven by a slower rise in general price levels, the National Bureau of Statistics stated. Inflation had risen to 18.72% in January, highest level in more than 11 years.

Rwanda’s inflation rose to 8.1% year-on-year in February from 7.4% a month ago, the National Bureau of Statistics stated. Month-on-month, consumer prices went up 1.9% compared to 0.3% drop in January.

South Africa’s headline consumer inflation slowed to 6.3% year-on-year in February from 6.6% in January, data from Statistics South Africa stated. On a month-on-month basis, inflation rose to 1.1% from 0.6% in January.

Sudan’s annual rate of inflation rose to 33.53% in February from 32.86% the previous month, as food and energy prices kept rising after subsidies were cut in early November, the Central Statistics Office reported.

Seychelles’ year-on-year inflation was at -0.6% in February, unchanged from the previous month, the statistics office stated. An increase of 0.04% was recorded in the month on month inflation in February 2017 compared to January 2017.

Tanzania inflation rises to 5.5% year-on-year in February from 5.2% in the previous month, the statistics office said. On a monthly basis, headline inflation rose by 1.0% in February from an increase of 0.8% a month ago.

Tunisia’s consumer inflation stagnates at 4.6% year-on-year in February, after an increase in the last four months, the National Institute of Statistics (INS) stated. Food and beverages group prices rose by 4.9% year-on-year during the month of February.

Uganda’s inflation rose to 6.7% year-on-year in February from 5.9% a month earlier, the statistics office stated. It was the highest inflation rate since February of 2016, and on a monthly basis, prices went up 0.8% after being flat in January.

Zambia’s inflation slowed to 6.8% year-on-year in February from 7.0% in January, the statistics office reported. The monthly inflation rate rose to 1.0% from 0.9% in January.

Zimbabwe’s consumer inflation was recorded at 0.06% year-on-year in February, from -0.65% in January. The month-on-month inflation was 0.61% in February against 0.23% a month ago.