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Commonalities in the Movements of Inflation Rates among Countries in the East African Community

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  • R. Scott Hacker
  • Yvonne Umulisa

Abstract

In this study, we investigate the degree to which inflation-rate movements for countries in the East African Community (EAC) have become more similar, which is an important issue for the EAC’s goal of creating a common currency. For the five EAC countries (excluding South Sudan), we find that comovements in inflation rates generally became more similar between 1995 and 2018. A decrease in the correlations of the three largest EAC members with the rest of the EAC (from each of their perspectives) after 2013 is concerning for a smoothly running monetary union.

Suggested Citation

  • R. Scott Hacker & Yvonne Umulisa, 2022. "Commonalities in the Movements of Inflation Rates among Countries in the East African Community," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 58(9), pages 2493-2504, July.
    • Handle: RePEc:mes:emfitr:v:58:y:2022:i:9:p:2493-2504
    DOI: 10.1080/1540496X.2021.1997738
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