World Bank: Ghana ranks 1st with the highest food price increases of 122% in Sub-Saharan Africa.

The World Bank has listed Ghana as having the highest food prices in Sub-Saharan Africa in 2022.

Food costs have increased by 122% since January 1, 2022, according to the October 2022 Africa Pulse Report from the Bretton Woods Institute.

Food costs have risen significantly worldwide since the beginning of 2022, partly as a result of the conflict between Russia and Ukraine.

Ghana has experienced unusually sharp food price increases on the African continent, according to the Food Price Index in Countries in Sub-Saharan Africa.

According to the Ghana Statistical Service, food inflation in Ghana has been significant, with an annual inflation rate of 34.4% in August 2022.

The inflation rate was significantly higher when compared month to month.

Oils and fats (67%), fish and other seafood (42.9%), water (42%), cereal goods (40%), milk, dairy products, and eggs (39.7%), fruit and vegetable juices (37.7%), and live animals and meat (34.5%) are the main causes of food inflation in Ghana.
All of the items had inflation rates that were higher than the 33.9% national average.

In general, the World Bank reported that for all nations with a stated nominal anchor, inflation exceeded the upper limit of the central bank goal bands.

In Nigeria, annual headline inflation increased to 20.5% in August 2022, the highest level since September 2005, after beginning the year beyond the central bank’s ceiling of 9.0%.
The main causes of the inflation spike were increases in the price of food and fuel.

Senegal closely followed Ghana in raising food prices by 100%.

With a 107% increase in food prices, Uganda ranks second.

Ranking of Sub-Saharan African countries with highest price increases in 2022