Countries in Africa with High Inflation Rates since Gaining Independence (Ranked Top 10)

In the vast landscape of Africa, a troubling trend has emerged since many countries gained independence: hyperinflation. This alarming economic phenomenon, characterised by inflation exceeding 50% within a 30-day period, has become a recurring problem, particularly in sub-Saharan Africa.

One country that has grappled with this issue is Burundi, where political instability and economic challenges led to a hyperinflation rate of 22.0% in 2024. Experts attribute Burundi's vulnerability to inflationary pressures to limited industrial output, sole reliance on agriculture, and external shocks.

Zimbabwe, too, has been a victim of hyperinflation. Between 2007 and 2008, prices in the country doubled every 24 hours, leading to a monthly inflation rate of 7.96 × 10^10% by November 2008. The Zimbabwean dollar became virtually worthless, prompting the government to abandon its currency in favour of foreign currencies like the US dollar. In 2024, Zimbabwe introduced a new currency, the ZiG (Zimbabwe Gold), backed by gold reserves, in an attempt to stabilise the economy.

Other countries that have faced hyperinflation include Angola, Ghana, Nigeria, the Democratic Republic of Congo, Malawi, Sierra Leone, and Sudan. In the 1990s, Angola and the Democratic Republic of Congo experienced average inflation of 476% and 716%, respectively. Sudan, in 2024, had the highest inflation rate in Africa at 157.9%. Factors contributing to these inflation rates vary from country to country, but often include political instability, currency devaluation, supply chain disruptions, and reliance on oil exports or agriculture.

It is worth noting that between 2024 and the introduction of the Zimbabwean dollar (ZiG), the African countries with the highest inflation rates for that specific period could not be definitively determined from the provided search results. However, it is known from broader economic contexts that countries like Zimbabwe, which introduced the ZiG, had very high inflation rates, and other African countries such as Sudan, Angola, and South Sudan have historically experienced very high inflation in recent years.

Despite these challenges, Africa's annual inflation rate has averaged more than 15% since the mid-1970s. It is a testament to the resilience of the African people and a call to action for governments and international bodies to address the root causes of hyperinflation and foster economic stability.

As the continent continues to evolve, it is crucial to monitor and address the issue of hyperinflation to ensure a prosperous and sustainable future for all Africans.

Countries in Africa with High Inflation Rates since Gaining Independence (Ranked Top 10)