olanmaikwuagwu/Rising-Living-Costs-and-Economic-Growth-in-Africa

This repository explores the relationship between rising living costs and economic growth in African countries. It includes data analysis, visualizations, and insights on key factors such as inflation, employment, and GDP from 2016 to 2021. ## Project Overview In recent years, rising living costs have become a global concern, especially in emerging economies. Factors such as inflation, commodity price fluctuations, and domestic policies drive this trend, impacting both households and broader economic health. In many African countries, high inflation, volatile commodity prices, and currency fluctuations exacerbate the situation, further strained by limited infrastructure, import reliance, and unstable economic growth. This case study examines how rising living expenses affect economic stability and growth, with more emphasis on consumer behavior, inflation, employment, and poverty. ## Objectives 1. Analyze the relationship between rising costs and inflation. 2. Assess the impact on employment and the job market. 3. Investigate business operations and investments. 4. Provide policy recommendations. ## Analytics tools + Excel + Google BigQuery + Power BI ## Key metrics analyzed 1. Cost of Living 2. GDP(USD) 3. Foreign direct investment 4. Unemployment rate 5. Inflation rate 6. Lending interest rate 7. GDP annual growth rate ## Questions answered + What is the average rate of inflation across the continent from 2016 to 2021? + Which countries have the highest inflation rates? + What is the relationship between inflation and purchasing power? + Does inflation affect unemployment? + What is the relationship between rising cost of living and inflation levels? + What is the trend for foreign direct investments across the years? + How do lending interest rates affect countries afflicted with high inflation? + What correlation is there between GDP annual growth rate and inflation? ## Important findings 1. Inflation levels peaked in 2020 with an average of 20% and were at the lowest in 2018 (below 10%). 2. Almost half of the nations in Africa had high inflation rates across the years with Zimbabawe recording the highest average of 153.50%. 3. Over the 6-year period, high inflation levels was linked to reduce …