Inflation and boycotts could spell trouble for Tunisia
19 September 2022 | 12:56 pm
With political conflict escalating and inflation rising, Tunisians are pessimistic and strapped for cash. Many are considering leaving the country. Others are preparing to protest — again.
Soaring inflation is prompting the bank to raise interest rates from current historic lows. The move could put a brake on rising prices but might also dampen growth.
Headline consumer inflation in South Africa surged to 7.4% in June, higher than analysts' predictions and ahead of a central bank interest rate announcement. Rhiannon Oliver has more.
Ghana's inflation has hit nearly 30% — the highest in the last two decades — as citizens lament the skyrocketing cost of living. Could the International Monetary Fund provide a solution for the West African nation?
Tunisia is gearing up for a referendum that would consolidate powers in the presidency, critics say it is a power grab. Kenya's presidential campaign has been hit by misinformation and fake news on social media. And it's the last days of the Women's Africa Cup of Nations in Morocco with the host nation taking on South Africa on Saturday for the title, the run-off for third place takes place on Friday between Nigeria and Zambia.
Heat and fires are laying waste to Tunisia's grain harvest, as the country struggles with food costs sent soaring by the war in Ukraine.
Tunisians have started voting in a plebiscite on a draft constitution that critics say would hand the country's president wide powers. With major parties boycotting the vote, analysts are expecting a low turnout.
Inflation in Germany is likely to start dropping again over the rest of the year, according to a prestigious economic think tank. But researchers warn food prices may still rise.
The Fed added 0.75% to its benchmark interest rate for a second straight time. The increase of the interest rate to its highest level in four years comes as inflation continues to reach new heights.
Inflation is running at its highest levels ever among the 19 countries using the euro, according to numbers published by Eurostat. Energy prices, which went up almost 40% in July, have contributed to the record hike.
Shepherd Chowe pushes a cart filled with tins, iron rods and other metallic objects down a dusty pathway in Hopley, a poor settlement about 15 km west of Zimbabwe's capital, Harare. He is among desperate Zimbabweans selling scrap metal for survival as the cost of living soars, piling pressure on a population already facing food shortages and high unemployment, and stirring memories of economic chaos years ago under the late leader Robert Mugabe's near four-decade rule.
The German Finance Ministry has revealed a plan to ease income tax in response to spiraling inflation. However, critics had claimed the measures would benefit top earners the most, and squeeze public spending.
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