The United Nations Economic Commission for Africa (ECA) will be organizing a Webinar for Ministers of Finance of African Member States on Wednesday 4 November 2020 from 1:00pm to 2:30pm (Addis Ababa time, GMT+3) to present and discuss recent developments on consumer price indexes, with a particular focus on food items from the basket of consumers.

Consumer Price Index (CPI) is a basic yet essential economic indicator. It is relevant to every citizen and fundamental for policymaking on consumption, trade, inequality, interest rate, and foreign exchange rate. The overall CPI in a country is a combination of the price indices of different consumption functions which, at various degrees, contribute to the overall price levels. Food component of CPI is instrumental in keeping in check the basis of the objective of the Sustainable Development Goals (SDGs) and Agenda 2063 in eliminating hunger and combating poverty on the African continent.

CPI and inflation figures compiled and disseminated in a timely manner contribute greatly to appropriate policy interventions and actions.

Consequently, after the launch of the “ECA Price Watch Centre for Africa” ECA aims to present the latest extension and Africa-wide findings that are relevant to its leaders at country, regional and continental levels.