COMESA Annual Inflation Rate Close 2021 at 180.1%

• Sudan with 292 %, Zimbabwe at 65.3%, Ethiopia 40.7% and Zambia at 18.6%.
• Rwanda contributing the least figure at 2.2%.
• Month-on-month inflation rate in the region as measured by HCPI-COMESA stood at 14.5% for the month of December 2021.

Common Market for Eastern and Southern Africa (COMESA) has revealed Annual inflation rate in the COMESA region was recorded at 180.1 % as at December 2021.

COMESA Head of Corporate Communications Mwangi Gakunga noted that latest Harmonized Consumer Price Index (HCPI) monthly news release produced by the Statistics Unit at COMESA Secretariat, show December inflation rate up from 156.8% registered in November 2021 while a year earlier, the rate was at 94.1%.

Mr. Gakunga also revealed month-on-month inflation rate in the region as measured by HCPI-COMESA stood at 14.5% for the month of December 2021, up from 7.9% registered in November 2021 compared to 5.1% in December 2020.

He further explained the HCPI-COMESA comprises of twelve divisions of expenditure which registered the different average price changes during the month of December 2021 compared with December 2020 of which Recreation and Culture contributed +1072.8% the highest figure while lowest figure was recorded from Alcoholic Beverages and Tobacco at +93.8%.

“Food and Non-alcoholic Beverages recorded +117.7%, Alcoholic Beverages and Tobacco +93.8%, Clothing and Footwear +118.1%, Housing, Water, Electricity, Gas and Other Fuels were at +110.2%, Furnishings, Household Equipment and Routine Household Maintenance +210.3%, Health +101.6%, Transport +164.6%, Communication +112.9% Recreation and Culture +1072.8%, Education +207.5%, Restaurants and Hotels +533.5%, and Miscellaneous Goods and Services +161.3%.” He said.

According to Mr. Gakunga, highest contributing member states to the Overall 180.1% Annual inflation rate with double digits rate are Sudan with 292 %, Zimbabwe at 65.3%, Ethiopia 40.7% and Zambia at 18.6%, the rest recorded single digit inflation rate with Rwanda contributing the least figure at 2.2%.

He revealed that participating Member States that contribute to HCPI-COMESA registered the following rates of total inflation in December 2021 compared to December 2020, “Burundi +9.6%, Democratic Republic of Congo +5.4%, Djibouti +2.4%, Egypt +2.9%, Eswatini +6.8%, Ethiopia+40.7%, Kenya +5.4%, Madagascar +6.0%, Malawi +9.2%, Mauritius +4.2%, Rwanda +2.2%, Seychelles+4.4%, Sudan +292.0%, Tunisia +7.1%, Uganda+6.7%, Zambia +18.6%, and Zimbabwe +65.3%.”