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WAEMU: BCEAO warns of continued soaring prices

03/02/2022
Categories: Index/Markets

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Within the West African Economic and Monetary Union (UEMOA), inflation was 4.9% in November. However, the Central Bank common to the countries of this sub-region (BCEAO) informs that the prices of food and housing will continue to increase.

 

Inflation, which defines the progression of prices within an economy, accelerated within the Union to 4.9% at the end of November 2021, according to a note from the Central Bank. This is the strongest change in this indicator since June 2016, and it comes after +3.5% in October 2020 and -0.2% at the end of 2019. The BCEAO expects an annual acceleration in prices of around 6%, at the end of 2021. The contribution of food products to this increase is 4.6 percentage points, followed by the housing sector.

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