editorial 224833915 hong kong view 2880x1620 11zon

Latest Rankings: African Cities With The Lowest Purchasing Power

By Caroline Kanshabe 

A low purchasing power has far-reaching ramifications. Numerous African countries face challenges associated with low purchasing power, reflecting various economic and social challenges.

Given the relevance of the purchasing power of a region, the purchasing power index must be made available to be better suited to fix the issue. Fortunately, there are research bodies responsible for such data collation, and Numbeo is one of them.

The Purchasing Power Index (PPI) is an important economic indicator that gives useful information about the relative worth of currencies and the cost of living in various nations.

According to Numbeo, one of the world’s most profound data and research platforms, the index for local purchasing power is based on the average net salary of any given region.

A domestic purchasing power of 40 means that residents with an average salary can afford, on average, 60% fewer goods and services compared to residents of New York City with an average salary.

The local purchasing power index, along with four other indexes, is used by Numbeo to calculate the overall cost of living in regions across the globe. Additional indicators include the rent index, the cost of living plus rent index, the food index, and the restaurant pricing index; a weighted average of these scores yields the total cost of living index.

Rank City Country Local purchasing power index
1. Douala Cameroon 5.7
2. Abidjan Ivory Coast 6.2
3. Addis Ababa Ethiopia 8.2
4. Lagos Nigeria 10.1
5. Accra Ghana 11.4
6. Kampala Uganda 13.4
7. Alexandria Egypt 14.3
8. Cairo Egypt 14.9
9. Dakar Senegal 16.3
10. Giza Egypt 17.3

Have An Advert Or Article You Want Us To Publish? Whatsapp: +256760530830. 

Related posts

Save The Environment: Mukula & Other Landlords Form Association To Kick Encroachers Off Bugolobi Swamps

Swift Daily News

Mega Blessing: Woman Gives Birth To Triplets After 15 Years Of Waiting

Swift Daily News

Hon Tugume Boniface Preaches Peace, Unity Among Religions In Igara West

Swift Daily News

Smuggler In Tears! Uncustomed Bitenge & Contraband Carolight Worth Ugx59M Intercepted

Swift Daily News

Former MP Caught With Bags Full Of Fake Dollars, Pulls Gun On Detectives

Swift Daily News

Poisoning Of 100 Students In Mityana: Ag RDC Mwanjuzi Orders School Closure, Kicks H/Teacher Behind Bars

Swift Daily News

Leave a Comment