According to data published by the website Trading Economics, which ranks African countries where inflation has slowed the most, this trend has been particularly evident in Rwanda, Ghana, and Burkina Faso.
Indeed, Trading Economics has announced that Rwanda, Ghana, and Burkina Faso are at the top of the list of African countries that have reported the sharpest decline in inflation from January to July 2023. Over the course of seven months, the inflation rate in Rwanda dropped from 13.8% to 17.3%. Additionally, inflation in Ghana was 41.3% in July compared to 53.6% in January, marking a decrease of 10.5%.
Furthermore, Burkina Faso experienced deflation of -1.1% in July, down from an inflation rate of 8.2% in January, representing a decrease of 9.3 percentage points over seven months. As for South Sudan, it ranks at the bottom of the list. Inflation there decreased by 8.8%, dropping from 14.4% in January to 5.6% in July.
Subsequently, inflation in Botswana decreased by 9.3% in July compared to January’s 9.3%. Following this, Uganda recorded a decrease of 6.5 percentage points, followed by Mauritania (-6.3), Mauritius (-5.9), Ethiopia (-5.1), and Cape Verde (-4.8).
