The cost of living crisis in Africa is a major challenge facing the continent. The rising cost of food, fuel, and other essential goods and services is making it difficult for many Africans to meet their basic needs.to an 18-year high of 25.8% in August, as Africa's largest economy grapples with rising prices ahead of a central bank interest rate decision.
indicated significant petrol and diesel price increases, mainly driven by higher international oil prices, which had surged since August due to reduced output by major oil-producing nations., economic growth in Sub-Saharan Africa slowed to 3.6% in 2022, from 4.1% in 2021, and is projected to slow further to 3.1% in 2023.