Inflation is the rate at which the value of a currency is falling and consequently,the general level of prices of goods and services is rising.
Here are the ten African countries with the highest inflation rate ;
1.Sudan -197.1% .
2.Zimbabwe - 99.3%
3.South Sudan - 40%
4.Angola - 22.3%
6.Zambia - 17.8%
7.Nigeria - 16%
8. Sierra Leone -15.5% .
9. Ethiopia - 13.1%
10.DR Congo - 10.9%
11. Liberia - 10.9%
Some of the reasons of inflation include:
1.lack of balance in the country's budget.
2. Financial problem, financing the deficit of money by printing.
3.Sudden increase in production costs.
4.Significant increase in the level of energy resources.
5 .Imported inflation.
6.Faulty structure of the economy.
7.Exported goods far exceeding imported ones.
Those are just but a few causes of the inflation .
The high inflation rates makes the life of the ordinary citizens to be tougher and ends up suffering most.The government and the central banks of the countries have to come up with strategies to control the high inflation rates and reduce it.
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