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ECA INTERNATIONAL

Cost of Living Survey Highlights, 30/07/2021

 

ECA's March 2021 Cost of Living Survey saw the world still very much in the grip of the pandemic but with some countries beginning to see light at the end of the tunnel as vaccination programmes expanded. However, with this came economic issues for many countries, as they began to feel the impact on their economies of reduced demand and limited international travel.

Many developing nations, especially those that rely on international travel, such as the Seychelles, or exports hit by the pandemic, like Zambia, saw their currencies depreciate which in turn pushed up domestic prices. While inflation in most countries was still quite low, we saw signs of it beginning to rise as some countries began to open up after lockdowns and demand grew. For example, oil prices increased after falling last year and therefore petrol prices also rose significantly in many countries in the six months to March 2021.


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