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Top 10 African countries with the lowest inflation rate mid-way into 2023

As one of the most important measures of price stability, inflation has a large role in the world of economic indicators. While low inflation rates can actually be beneficial for countries and build an atmosphere that is favorable to sustained growth and development, inflation is frequently linked with negative connotations. A number of countries on the African continent have benefited from having low inflation rates, bringing about several advantages that support economic stability and development

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While a some African nations have experienced prolonged periods of high inflation, some have enjoyed the benefits of having a relatively controlled inflation level. Factors that contribute to a controlled inflation rate include, stable consumer prices, purchasing power preservation, a favorable investment environment, competitive advantage, reduced uncertainty, effective monetary policy, fiscal discipline, reduced poverty, savings and investment, and long-term economic planning.

Low inflation rates in Africa represent a valuable opportunity for nations to forge a path of economic stability, resilience, and prosperity.

In light of this, some African nations have done an exceptional job of curbing high levels of inflation. The top ten of these nations are listed here, along with their inflation rates.

This list is provided courtesy of Trading Economics, a data platform that offers its customers precise data for 196 nations, including historical data and projections for more than 20 million economic indicators, currency rates, stock market indices, government bond yields, and commodity prices.

The data below are current inflation figures dating back to July or June. Also the list comprises of inflation rates as of July or June.

Rank Country Inflation Rate
1. Syechelles -1.98%
2. Burkina Faso -0.7%
3. Botswana 1.5%
4. Niger 1.67%
5. Mali 2.2%
6. Cape Verde 2.6%
7. Tanzania 3.3%
8. Benin 3.9%
9. Uganda 3.9%
10. Mauritania 4%

Reference: https://africa.businessinsider.com/local/markets/top-10-african-countries-with-the-lowest-inflation-rate-mid-way-into-2023/g5wvx3j

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