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Algeria’s inflation rate rises to 9.6%, first in three years

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For the first time in three years, the inflation rate in Algeria has risen to an all time high of 9.6 per cent at the end of August, in what economists in the North African country say is as a result of rise in the prices of basic commodities globally and its impact on local markets.

The Deputy Director-General of the Algerian National Office of Statistics, Hamid Zaydouni, who disclosed this during a hearing at the Finance Committee of the People’s National Assembly on Thursday, said Algerian market recorded an inflation rate of 7.23 per cent during 2021, the highest in nearly three years.

“Algeria is witnessing an unprecedented rise in the prices of various products, some of which have increased by more than 100 per cent, amid warnings by consumer protection associations that the rise would weaken people’s purchasing power,” Zaydouni said.

“Over the past three years, the inflation rate in Algeria ranged between 3.5 and 7.5 per cent.

“The high prices have affected subsidised goods such as cooking oils, semolina and farina,” he added.

Zaydouni added that from 2021, the inflation rate of 7.2% was calculated but the average inflation rate has been 8.8% per year since then.

Since the outbreak of the Coronavirus pandemic in 2019, most African countries have been on the threshold of rising inflation as global economy had experienced enormous pressure.

The war between Russia and Ukraine which broke out in February has also contributed to the economic crisis in the continent with inflation growing at an alarming rate, often forcing countries to raise interest rates, hoping to slow down the inflation which has continued to rise to all time high.

According to statista.com, the “overall inflation rate in Sub-Saharan Africa in 2022 is expected to grow today whopping 12.2 percent, with the surge following a global tendency, as consumer prices soar all over the world, impacting advanced as well as emerging and developing economies.”

As at August, Sudan had the highest inflation in Africa as of 2022 with the rate reaching 245 percent.

Sudan is closely followed by Zimbabwe with the second-highest inflation on the African continent, averaging 90 percent.

Countries like Nigeria, South Africa, Ghana, Egypt, Tunisia, Kenya, amongst others have had to raise their interest rates at some point due to inflation.

 

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Rwanda accuses US of inflaming crisis in eastern DRC

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The government of Rwanda on Tuesday, accused the United States as well as the international community of ‘exacerbating and inflaming’ the crisis in eastern Democratic Republic of Congo (DRC).

The accusation was made by the Foreign Affairs Ministry after the US urged Kigali to stop any support for the M23 rebels who have a base in a Rwandan territory.

The US Secretary of State Antony Blinken, had in a telephone call on Sunday to Rwandan President Paul Kagame, said “it was clear that all external support to non-state armed groups in the DRC must end, including Rwanda’s support for M23.”

But in a press release published on Tuesday, the Rwandan Minister of Foreign Affairs, Vincent Biruta, affirmed that Paul Kagame and Anthony Blinken “had had good exchanges but that differences remain on the understanding of the problem.”

“The erroneous approach of the United States and the international community continues to exacerbate the problem in the east DRC.

“Rwanda’s security problems must be taken into account… M23 should not be equated with Rwanda,” Biruta said.

The crisis in eastern DRC between government forces and the M23 rebels which is made up of mainly Tutsi ethnic group, a predominant tribe in Rwanda, has continued to heighten tensions between the two neighbours with the DRC accusing Rwanda of supporting and encouraging the militia, accusations Kigali has always denies.

Rwanda on its part, has often blamed the crisis in eastern DRC on authorities in Kinshasa and accused the international community of turning a blind eye to DRC’s support for the Democratic Forces for the Liberation of Rwanda (FDLR), a rebel group made of Rwandan Hutus who were involved in the 1994 genocide in Rwanda.

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Somali forces, local vigilantes, recapture strategic town from Al-Shabaab terrorists

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The Somali National Army (SNA), alongside local vigilantes popularly called Mo’awisley, on Monday, recaptured the strategic city of Adan Yabaal from the al-Shabaab terrorist group, the military said in a bulletin on Tuesday.

According to the statement, the town located near the border between Hiran and Middle Shabelle regions that comprise Hirshabelle State, which is about 220 kilometres north of the capital Mogadishu, is one of the five federal member states of the Federal Government of Somalia, and had been a strategic location held by the al-Qaeda-sponsored extremist group.

The SNA said in the bulletin that it met no resistance from the al-Shabaab fighters who left the town without posing resistance on getting information about the approach of the federal troops.

Al-Shabaab have lost most of the towns and settlements in Hirshabelle State, both Hiran and Middle Shabelle regions, after the SNA and Mo’awisley vigilantes waged offensive wars.

“Mo’awisley vigilantes, who are mainly composed of nomadic herders, took up arms and rebelled against the jihadists’ confiscation of their livestock and illegal tax collection known as zakawaat.

“Over the last couple of weeks, the government forces and the vigilantes have been gradually inching towards the town which they seized on Monday. The town had been under the full control of al-Shabaab for over a decade,” the bulletin said.

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