Aug 16 , 2020
The United Nations Economic Commission for Africa (UN-ECA) launched the first tool that offers a unique view of price variations in African countries, regional economic communities, and at the continental level. Launched virtually on August 11, 2020, the tool brings the prices and exchange rates of all African countries onto one platform that is accessible to citizens, decision makers and other stakeholders. The platform will also provide monthly, quarterly and annual analysis of inflation. The role of national statistics offices and national revenue authorities in ensuring the platform has timely, accurate and up-to-date data will be crucial, according to Vera Songwe (PhD), executive secretary of UNECA. "Lack of price data to enable, monitor, analyse and manage economies through informed policy decisions has often led to civil unrest," she added. The platform is expected to provide data on price movements to gauge how consumer prices are changing, trends in income distribution, poverty levels and income inequalities.
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