According to the International Monetary Fund, “Consumer price indexes (CPIs) are index numbers that measure changes in the prices of goods and services purchased or otherwise acquired by households, which households use directly, or indirectly, to satisfy their own needs and wants.”
Consequently, the stress that rising consumer prices place on people and households is the most obvious and direct impact on them.
As the prices of goods and services rise, the purchasing power of customers diminishes, leading to a decline in living standards.
Essential needs such as food, housing, and healthcare become more expensive, placing pressure on families to make difficult choices and potentially pushing vulnerable individuals deeper into poverty.
With that said here are the 10 African countries with the lowest price changes in household commodities.
| Rank | Country | Consumer price index projection 2024 |
|---|---|---|
|
1. |
Seychelles |
-0.2 |
|
2. |
Mali |
1.0 |
|
3. |
Djibouti |
1.9 |
|
4. |
Cabo Verde |
2.0 |
|
5. |
Comoros |
2.0 |
|
6. |
Burkina Faso |
2.1 |
|
7. |
Gabon |
2.1 |
|
8. |
Morocco |
2.2 |
|
9. |
Togo |
2.7 |
|
10. |
Libya |
2.9 |
