One of the significant contributors to inflation in many African countries is the volatility of commodity prices, particularly those of essential goods such as food and fuel.
For instance, agricultural-dependent economies are susceptible to climate conditions and global market prices. Similarly, nations relying heavily on oil exports often face inflationary pressures when international oil prices surge.
So, it’s not just about what’s happening inside a country; it’s also about the twists and turns of the global market that keep inflation knocking on the door.
