10 African countries with the lowest price changes in household commodities

Chinedu Okafor 15:30 - 26 April 2024

High consumer prices sometimes intensify inflationary pressures, especially in Africa, by devaluing savings and fixed incomes.

Business Insider Africa presents the 10 African countries with the lowest price changes in household commodities.
This list is courtesy of the World Economic Outlook report by the International Monetary Fund.
Seychelles ranks number one on the list, with a negative consumer price index.

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.

DON’T MISS THIS: 10 African countries with the highest price changes in household commodities

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.

The recent World Economic Output report released in April by the International Monetary Fund titled "Steady but slow: Resilience amid divergence," disclosed the projected consumer prices of countries across the globe in 2024.

With that said here are the 10 African countries with the lowest price changes in household commodities.