The Gambia's inflation rate will reach 8%, according to the World Bank's report on the country's economic news. The report also said that the annual inflation rate will decrease in 2024, but will remain relatively high.

The inflation rate will rise to 8% in 2022 as supply chain breaks and commodity prices continue to soar. The report emphasized that the steady rise in food prices will continue to be a burden for vulnerable families, thus reducing their chances of escaping poverty.

Calling for careful and tight monetary policy, the report maintains “that high inflation in a context of emerging economic recovery indicates the n& The need for the Central Bank of the Gambia to gradually remove the economy from the accommodative monetary policy implemented since the start of the pandemic.”