September’s Inflation Trends Across the Continent

LAGOS (Capital Markets in Africa) – Angola’s inflation quickened to 39.44 percent in September from 38.18 percent in August, data from the national statistics agency showed. Prices increased at a slower pace month-on-month, rising 2.14 percent in September from 3.3 percent the prior month. Key contributors to the rise were food and non-alcoholic beverages; miscellaneous goods and services; clothing and footwear; furnishing and household equipment.

Botswana’s consumer inflation quickened to 2.8 percent in September from 2.6 percent in August, data from the statistics office showed. On a month-on-month basis, prices rose 0.3 percent in September after a 0.2 percent increase the previous month, Statistics Botswana said.

Egypt’s annual urban consumer price inflation eased to 14.1 percent in September, from an eight-year high of 15.5 percent in August, the official statistics agency CAPMAS said. September’s fall is the first in the urban measure since March. Month-on-month inflation was 1.2 percent in September, compared with 1.9 percent in August.

Ethiopia’s inflation rate rose to 6.9 percent in September from 5.9 percent in August, due to a rise in the price of food items, Central Statistics Agency data showed. Food price inflation rose to 6.1 percent in September from 4.4 percent in August and non-food inflation rate was 7.8 percent in September compared to 7.6 percent August.

Ghana’s annual consumer price inflation rises to 17.2 percent in September from 16.9 percent in August, the statistics office said. It was the highest reading since July food and non-alcoholic beverages group pooled 9.0 percent inflation which is a 0.5 percentage point higher than the August figure.

Ivory Coast consumer inflation rose to 0.7 percent in September compared with deflation of 0.4 percent in August, data from the National Statistics Institute revealed. Food and soft drink prices rose 2 percent year-on-year, housing and utility prices added 1.3 percent but transport costs fell 1.4 percent.

Kenya’s inflation rose slightly to 6.34 percent in September from 6.26 percent a month earlier, the statistics office said. The Kenya National Bureau of Statistics said in a statement that on a month-on-month basis, inflation was at 0.34 percent. Rising food prices outweighed consumer gains from falling fuel prices, it said.

Malawi’s consumer inflation braked slightly to 21.2 percent in September from 22.8 percent in August, the statistics office said. The headline inflation for the same period last year was at 24.1 percent (September 2015). The urban and rural rates stand at 17.5 percent and 24.2 percent respectively.

Mauritius’ inflation was 0.9 percent year-on-year in September, the statistics office said. Month-on-month, consumer prices rose 0.2 percent drive mainly by food and non-alcoholic beverages a 0.6 percent, followed by miscellaneous goods and services, alcoholic beverage and tobacco (0.3%), health (0.2%), communication (0.2%), recreation and culture (0.2%).

Morocco’s annual consumer price inflation rose to 2.3 percent in September from 1.6 percent in August due to higher food prices, the High Planning Authority said. Annual food inflation jumped to 4 percent from 3 percent August. On a month-on-month basis, the consumer price index rose to 0.7 percent in September, up from 0.2 percent in August, as food price inflation rose 1.1 percent.

Mozambique’s consumer inflation rose to 24.92 percent in September from 21.96 percent in August, data from the statistics agency showed. Monthly inflation hit 2.71 per cent in September, as usual, most of the rise in inflation is accounted for by food prices. Thus in September, rice rose in price by 3.8 per cent, groundnuts by 10.4 per cent, cooking oil by 8.2 per cent, live chickens by eight per cent and maize flour by 2.3 per cent.

Namibia’s consumer inflation edged up slightly to 6.9 percent in September from 6.8 percent in August, the statistics office said. Inflation on a month-on-month basis rose 0.2 percent, unchanged from the previous month, the Namibia Statistics Agency said in a statement.

Nigerian Annual inflation accelerated in September to 17.9 percent, a more than 11-year high and the eighth monthly rise in a row, the National Bureau of Statistics (NBS) data showed. The rise from 17.4 percent in August reflected higher prices for electricity, kerosene, transport and food, a separate index for which rose to 16.6 percent from August’s 16.4 percent. During the month, the highest increases were seen in clothing materials, shoes, books and stationeries.

Rwanda’s inflation rose to 5.8 percent in September from 6.4 percent in August, the state-run statistics office said. It was the lowest reading since June driven by slower rise in cost of housing and utilities. Other main contributors to the increase were food and non-alcoholic beverages (+6.2 percent form +6 percent in August) and transport (+0.5 percent, the same pace as in August). On a monthly basis, consumer prices rose 1.7 percent.

Tanzanian inflation continued to fall in September after food prices rose more slowly and fuel prices fell, the statistics office said. The state-run National Bureau of Statistics said inflation fell to 4.5 percent year-on-year last month from 4.9 percent in August. Month on month, the headline inflation rate was 0.2 percent in September. The decline of the annual headline inflation rate in September 2016 was largely caused by slower rises in food and non-food items such as fuel.

Uganda’s inflation eased to 4.2 percent in September from 4.8 percent in August due to slowing food and drink price rises, the statistics office said. Month-on-month inflation stood at 0.9 percent against 0.5 percent a month earlier, the Uganda Bureau of Statistics said in a statement. The food and non-alcoholic beverages inflation fell to 4.6 percent from 5.1 percent a month earlier.

Zambia’s inflation slowed to 18.9 percent in September from 19.6 percent in August, the central statistical office (CSO) said on. The monthly inflation rate eased to 0.1 percent in September from 0.4 percent in the previous month.