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African Countries have Unique Challenges when it Comes to the Cost of Living

Numbeo, a data and research platform, determines the overall cost of living index of a country by considering factors like the rent index, grocery index, restaurant index, and cost of living plus rent index, coupled with an estimation of consumer goods prices, including rent and local purchasing power. These are the main culprits that determine how much it costs to live in an African country. If the economy is doing well, demand for goods and services will go up, which usually means a higher cost of living. And over time, inflation will drive up the prices of everything, making it even more expensive to live there. Unfortunately, the high cost of living can hit hard for those with fixed or low incomes, making it tough to make ends meet, let alone afford basic necessities or save for the future.

SOURCE: VENTURES AFRICA