Data compiled by the services of the WAEMU Commission reveal that consumer prices in the West African Economic and Monetary Union (WAEMU) area fell by 0.3% in December 2020 compared to the previous month.

The Harmonized Index of Consumer Prices (HICP) stood at 105.5 against 105.8 in November 2020. "In December 2020, at the level of the various States of the WAEMU zone, the negative monthly variations that drove the trend of the regional level were recorded in the following countries: Mali (-2.0%), Benin (-1.7%), Burkina Faso (-1.6%), Senegal (-0.7%) and Niger (-0.1%)," the WAEMU Commission said. The HSCP of the other three countries of the union increased with 0.8% for Guinea-Bissau, 1.1% for Côte d'Ivoire and 1.2% for Togo.
However, the indices for December 2020, compared to those of November 2020, show that the decline comes from the fall in the prices of food and non-alcoholic beverages (-0.6%), alcoholic beverages, tobacco and narcotics (-1.7%), housing, water, electricity, gas and other fuels (-0.8%), transport (-0.2%) and restaurant and hotel services (-0.1%).
The WAEMU Commission notes that "with regard to the secondary nomenclature, in monthly variation, the prices of the most volatile products in the IHPC basket increased by 0.2%". The overall price trend then stems from the fall in the price level of fresh products (1.7%) and energy products (1.9%). The annual evolution of the HICP shows an increase of 2.2% in the general price level in the WAEMU zone compared to its level of December 2019.
The year 2020 ended with an annual average inflation level of 2.1% at the regional level, driven mainly by the evolution of the price levels of functions. In the various States of the Union, in descending order, this inflation is 3.0% in Benin, 2.9% in Niger, 2.5% in Senegal, 2.4% in Côte d'Ivoire, 1.9% in Burkina Faso, 1.8% Togo, 1.5% in Guinea-Bissau and 0.5% in Mali.