UEMOA: 0.5 percentage point increase in inflation rate in October

The inflation rate of the West African Economic and Monetary Union (UEMOA) countries increased by 0.5 percentage point, year-on-year, at the end of October 2020 compared to the previous month, according to data from the Central Bank of West African States (BCEAO).

This inflation rate stood at 3.4% during the period under review, after rising to 2.9% a month earlier. This situation contrasts with that of September 2020 with a slight drop of 0.4 percentage point in the inflation rate.

According to the issuing body, the acceleration in the rate of price growth in the UEMOA zone is mainly driven by the Food and Restaurants and Hotels components, whose overall contribution to total inflation has increased by 2.5 percentage points. in September 2020 to 2.8 percentage points in October 2020, in connection with the increase in the prices of vegetables and fruits, tubers and plantains as well as fishery products in most of the countries of the Union.

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