WAEMU: 0.6% drop in consumer prices in April 2019

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

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 price level of April 2018, the index of April 2019 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 again 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 of a year ago and the same is true for food and non-alcoholic beverages greater magnitude of -1.0%, « says the WAEMU Commission.

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

Moreover, it is stressed at Commission level, the average annual inflation rate of the Union is 0.6% in April 2019. « Also, at the level of the various WAEMU states, notes that all start the year 2019 with inflation rates below the Community threshold of 3% « , observe the Commission officials. It should be noted, however, that Mali has recorded a negative inflation rate since February 2019 (-0.1%) and stands at -0.6% in April 2019.

In the period under review, annual average price movements 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 is 0.6.

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