According to the World Bank, Ghana will have the highest food prices in Sub-Saharan Africa in 2022. According to the Bretton Woods Institution’s October 2022 Africa Pulse Report, food prices have increased by 122% since January 1, 2022.
Food prices have risen sharply in many countries since the beginning of 2022, owing largely to the Russian-Ukraine conflict.
In accordance with the Food Price Index in Sub-Saharan African countries, Ghana has the highest food prices on the African continent.
Food inflation in Ghana has been high, with a year-on-year increase of 34.4% in August 2022, according to the Ghana Statistical Service.
Oils and fats (67%), fish and other seafood (42.9%), water (42%), cereal products (40%), milk, dairy products, and eggs (39.7%), fruits and vegetable juices (37.7%), and live animals and meat (34.5%) are the main drivers of food inflation in Ghana. All of the items experienced higher inflation rates than the national average of 33.9%.
Overall, the World Bank reported that inflation had breached the ceiling of central bank target bands in all countries with a clear nominal anchor.
In Nigeria, headline inflation began the year above the central bank’s 9.0% limit and accelerated to 20.5% in August 2022, the highest level since September 2005. Food and fuel prices were the primary drivers of the inflationary surge.
And in the meantime, Senegal closely followed Ghana with 110% increases in food prices.
The government has assured the people in the country to stay calm because they would certainly create a different avenue to stabilize the economy.
Uganda ranks second, with a 107% increase in food prices.
Sub-Saharan African countries with the highest price increases in 2022 are ranked
|Country||Increase in food prices (%)||Ranking|