The Harmonized Consumer Price Index (HICP) of the WAEMU zone (West African Economic and Monetary Union) fell by 0.6% at the end of April 2019 compared to its level of April 2018, announced the UEMOA Commission based in Ouagadougou in Burkina.

This index stood at 102.5 against 103.1 in April 2018. According to the WAEMU commission, the evolution of the HICP varies depending on the country. Compared to the April 2018 price level, the April 2019 index falls for Benin (-1.6%), Burkina Faso (-2.5%), Mali (-1.2%), Niger (-2.8%) and Togo (-0.3%). In the other three countries, the index rose in April 2019. It was +0.7% in Côte d'Ivoire, +2.5% in Guinea Bissau and +0.8% in Senegal.

“The overall price level of goods and services in the union fell in April 2019 compared to its level a year ago and the same is true for that of food and non-alcoholic beverages, but of a greater magnitude of -1.0%”, underlines the WAEMU Commission.

In terms of annual average variation, the consumption functions are more in a situation of continuous increase in their price. However, the Food and non-alcoholic beverages function continues to register an annual average decline in its price level since February 2019.

Moreover, it is pointed out at the level of the Commission, the annual average inflation rate of the Union is 0.6% in April 2019. “Also, at the level of the various WAEMU States, we notes that all are starting 2019 with inflation rates below the community threshold of 3%,” observe Commission officials. Note, however, that Mali has recorded a negative inflation rate since February 2019 (-0.1%) and is at -0.6% in April 2019.

During the period under review, the annual average variations in the prices of goods and services grouped according to the elements of the secondary nomenclature increased, except for the price level of fresh products (-1.2%) and products from the primary sector. (-0.7%). The standard deviation of the distribution of Member States' average inflation rates has been below 1% since December 2018. In April 2019, it was 0.6.

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