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African Economy - Weak Currencies Drive Up the Cost of Living

Graham Watson

15th November 2023

The BBC has this excellent background article about the impact of weak currencies on the cost of living. This is a brilliant real world example, with the falling value of the naira driving up inflation in Nigeria and changing consumption patterns.

However, Nigeria isn't alone: many sub-Saharan African economies have depreciating currencies and this is reducing the purchasing power of consumers and impacting their standard of living.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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