Ghana has the highest food inflation rate in sub-Saharan Africa, according to the World Bank’s October 2022 Africa Pulse report.

According to the report, food prices in Ghana increased by 122% between January and October of this year.

The rate presented by the Bretton Wood institution, although alarming, comes as no surprise.

The Ghana Statistical Service (GSS) recently revealed that food inflation is one of the factors exacerbating the national inflation rate, which currently stands at 33.9%.

Food inflation has been on the rise since January 2022 (13.7%). In February, the figure rose to 17.4%, 22.4% in March and then 26.6% in April.

May recorded a 30.1% food inflation rate, indicating a 3.5% hike within a month. In June, it rose to 30.7%. And then in July and August, it climbed up to 32.3% and 34.4%, respectively.

The second country in sub- Saharan Africa where food prices are exponentially rising is Senegal.

Senegal has recorded a food inflation rate of 110% between January and October 2022, followed by Uganda with 107%, Nigeria with 106.5%, Kenya with 104%, South Africa with 102%, Angola with 101.5%, Mozambique with 101%, Zambia with 100.5%, and Congo with 100%.

According to the World Bank’s report, rising global food prices, which were already observed in the pre-pandemic period, “have accelerated since the onset of the Russian Federation’s invasion of Ukraine and the lockdowns due to the zero-COVID-19 policy followed by China amid new COVID-19 outbreaks.”

Food inflation has therefore become inevitable, as “many countries in Africa are dependent on food and fuel imports.”

The report further explained that the reason the impact of COVID-19 and the ongoing Russia-Ukraine war is distinct with every country mentioned “can be attributed to differences in the economic structure and coping policies to deal with food and fuel prices.”

Source: The Independent Ghana