Food prices push Nigeria inflation to 17-month high after border closures

Children are starving to death in Somalia where roughly half the population needs food urgently. The situation is being fueled by climate change and made much worse by Islamist extremists.

More than 200,000 Somalis are suffering catastrophic food shortages and many are dying of hunger, with that number set to rise to over 700,000 next year, according to an analysis by an alliance of U.N. agencies and aid groups.

The 2022 Lagos Food Festival, themed, “A taste of Africa”, held on Sunday, 11th of December, 2022 at the Muri-Okunola Park, Victoria Island, Lagos. The festival was an avenue for fun lovers to meet different people, as well as a platform for various business people, especially Food Producers, Food Processors, and Food Lovers to interact.

Kristalina Georgieva, the managing director of the International Monetary Fund, is warning that this year will be tougher than the last and that the war in Ukraine, rising inflation and higher interest rates will weigh heavily on the global economy. She expects the EU to be particularly hard hit, with half of its members seeing declines in growth.

The consequences of the war in Ukraine are even being felt in Tunisia. In Kairouan, rising food and energy prices mean Najwa Selmi is faced with a tough decision: to buy food or send her children to school.

The global economy is at an inflection point. The IMF projects that a third of the world economy will be in recession next year. War in Europe, a slowdown in China and soaring inflation have contributed to widespread pessimism around a growing, multifaceted economic crisis.

France's cost of living crisis shows signs of stabilizing, as inflation dropped from 7.1% to 6.7% in December. It's among the lowest levels in the Eurozone, but many households and businesses are still struggling. French bakers are asking for more financial aid, with the cost of flour up a staggering 45%.

France's cost-of-living crisis shows signs of stabilising, as inflation dropped from 7.1 percent to 6.7 percent in December. It's among the lowest levels in the eurozone, but many households and businesses are still struggling.

The refugees accuse Rwanda's government and the UNHCR of starving them to force them to return home. The UN has rejected the accusation, saying it is doing its best to provide aid during difficult economic times.

The EU's Economic Commissioner said the bloc had encouraging economic news and may avoid a much-feared deep recession in 2023.

Gloomy economic forecasts have cast a long shadow over this year's event in the Swiss Alps. But Georgieva said that although the IMF projects 2023 to be "a difficult year" and for growth to fall further, "we don't expect a global recession". She cited resilient labour markets and consumer spending, the post-Covid reopening of China and signs of inflation trending downwards.

The German economy is withstanding the aftershock of the Ukraine war better than prior projections showed.