Top 10 African countries with the highest inflation rates in June 2026

Inflation across the African continent remains elevated, with Malawi recording the highest rate at 21.1% in June 2026. The figures are compiled from the latest consumer price index (CPI) reports from national statistical agencies and central banks across each country, reflecting the most recent available readings spanning between May to June 2026.

South Sudan and Libya would have featured in this top 10 list but are excluded due to specific data limitations. South Sudan is left out because its latest available inflation data is only up to May 2025. Libya is excluded due to ongoing methodological inconsistencies in its inflation data. Although the country has introduced a nationwide Consumer Price Index to replace its previous Tripoli-only measure, the IMF noted in its 2025 Article IV Consultation that methodological shortcomings continue to affect the accuracy of inflation estimates.

Countries with inflation below 15%

10. Sao Tome and Principe — 9.2% Sao Tome and Principe recorded an inflation rate of 9.2% in May 2026, up from 8.6% in the previous month, representing an increase of 0.6 percentage points. The island nation remained the only country on the list with inflation below 10%. However, the increase suggests that price pressures are declining after a relatively stable period. As a heavily import-dependent economy, movements in global food and energy prices tend to pass quickly into domestic inflation.

9. Angola — 10.11% Angola’s inflation rate eased to 10.11% in June 2026 from 10.88% recorded in May, representing a decline of 0.77 percentage points. The slowdown extended the country’s disinflation trend, supported by tighter monetary policy and relative stability in the kwanza during the period according to IMF 2026 Article IV. Inflation has fallen for the 23rd consecutive month after peaking above 31.09% in July 2024. Inflation yet remains above the central bank’s single digit target, keeping pressure on household purchasing power and business operating costs.

8. Botswana — 10.7% Botswana recorded an inflation rate of 10.7% in June 2026, unchanged from the previous month. The flat reading suggests that food and transport costs may have stalled, with underlying price pressures remaining sticky. Botswana continues to maintain one of the more stable macroeconomic environments in Southern Africa, although inflation remains well above historical averages.

7. Egypt — 12.2% Egypt’s annual inflation rate declined to 12.2% in June 2026 from 13.0% in the previous month, representing a drop of 0.8 percentage points. The slowdown reflects the fading impact of earlier currency devaluations and the impact of aggressive monetary tightening by the Central Bank of Egypt over the past two years. Despite the moderation, inflation remains elevated by Egyptian standards and continues to weigh on consumer spending.

6. Sierra Leone — 12.69% Sierra Leone posted one of the sharpest increases in inflation among the countries reviewed, with prices rising to 12.69% in May 2026 from 10.83% previously. The 1.86 percentage point increase was driven by higher food and non-food prices, with food inflation rising to 5.17% from 3.56% and non-food inflation climbing to 18.63% from 16.62%. Housing and utility costs surged 65.46% year-on-year, while transport inflation accelerated to 37.4%.

5. Ethiopia — 13.4% Ethiopia’s inflation rate rose to 13.4% in May 2026 from 11.7% in April, representing an increase of 1.7 percentage points. Food inflation rose for the third consecutive month. The country had briefly returned to single-digit inflation in March at 9.4% before price pressures resurfaced. This renewed acceleration keeps Ethiopia among the continent’s highest inflation economies, reflecting the lingering impact of previous price shocks.

4. Rwanda — 13.6% Rwanda recorded an inflation rate of 13.6% in June 2026, up from 12.9% in the previous month. The 0.7 percentage point increase marked one of the larger monthly accelerations among the countries reviewed. The increase suggests that consumer prices remain sensitive to imported inflation despite Rwanda’s relatively strong monitoring of macroeconomic indicators.

Africa’s highest inflation economies

3. Nigeria — 15.91% Nigeria recorded an inflation rate of 15.91% in June 2026, marginally lower than the 15.93% recorded in May. The 0.02 percentage point decline extended the country’s disinflation streak, although the pace of improvement remained extremely modest. Food prices continue to account for the largest share of inflationary pressure in the country, while exchange rate stability and easing energy prices provided some support during the month. Inflation is expected to remain broadly stable in the near term, although renewed tensions could add fresh pressure to prices once their effects begin to filter into the Nigerian economy. This outlook aligns with S&P Global’s recent decision to raise Nigeria’s average inflation forecast for 2026 to 16.9%.

2. Burundi — 18.4% Burundi’s inflation rate slowed to 18.4% in June 2026 from 20.8% previously, representing a decline of 2.4 percentage points. The country recorded the second-largest decline among the ten economies reviewed, although inflation remained among the highest on the continent. Persistent supply shortages and the country’s dependence on imported consumer goods continue to create upward pressure on prices.

1. Malawi — 21.1% Malawi recorded Africa’s highest inflation rate in June 2026 at 21.1%, despite posting the largest decline among the countries reviewed. The country’s inflation rate fell from 23.4% in the previous month, representing a 2.3 percentage point decline. The improvement was largely driven by easing food prices, with food inflation slowing to 14%.

For Nigeria, the modest decline to 15.91% offers little relief to consumers and businesses still grappling with high food costs. With S&P Global forecasting average inflation of 16.9% for 2026, the naira remains under pressure and household purchasing power is likely to stay constrained in the months ahead.