Togo: 2.7% increase in consumer prices in April

Consumer prices in Togo recorded an increase of 2.7% at the end of April 2021 compared to the previous month, according to data established by the National Institute of Statistics and Economic and Demographic Studies (INSEED) based in Lomé.

The National Harmonized Consumer Price Index (INHPC) thus stood at 109.7 against 106.8 in March 2021. “This change is mainly due to the increase in the indices of the Food and Beverage functions. alcoholic beverages (+ 7.7%), Housing, water, gas, electricity and other fuels (+ 0.5%), Health (+ 0.6%), Restaurants and Hotels (+ 0.1%) and Goods and various services (+ 0.2%) ”, explains INSEED.

This structure notes, however, that the increase in the overall index is attenuated by the contraction of the consumption function index Alcoholic beverages, tobacco and narcotics which fell by 1.0%.

Calculated excluding food products, the general price level recorded an increase of 0.1% nationally. Core inflation (monthly change in the index excluding energy, excluding fresh produce) also rose by 0.8%. “In view of the condition of the products, underlines INSEED, fresh products recorded an increase of 9.4%”.

Prices also increased, but to a lesser extent for non-energy and fresh products (0.8%) and energy products (0.6%).

Regarding the source, the prices of local products increased by 3.4% and those of imported products by 0.6%.

From the point of view of sector classification, INSEED reports that the increase in the general level of prices in Togo is due to that of the prices of products in the secondary (+ 1.4%) and primary (+11.6) sectors.

In terms of sustainability, the observed increase is mainly due to the increase in the prices of non-durable products (+ 4.5%).

In quarterly evolution, the general level of prices in April 2021 rose by 2.1% compared to the situation of January 2021. “This variation is the combination, on the one hand, of the increase in the prices of products of the functions of consumption Food products and non-alcoholic beverages (+ 5.8%), Leisure and culture (+ 1.9%), Transport (+ 0.5%) and on the other hand, the decline in the prices of products from the consumption Alcoholic beverages, tobacco and narcotics (-1.3%) ”, explains INSEED.

What about secondary nomenclatures and the condition of the products? On this point, INSEED officials argue that the increase in the general level of prices in quarterly variation is to be attributed to the increase in the prices of fresh products (+ 7.7%), non-energy products. and fresh products (+ 0.9%) amortized by the prices of energy products (-0.1%).

With regard to origin, this quarterly variation is explained by the increase in the prices of local products (+ 3.1%) and imported products (+ 0.4%).

From the point of view of sustainability, the increase in the general level of prices in quarterly evolution is mainly induced by the increase in the prices of non-durable products (+ 3.6%) and services (+ 0.6%). According to INSEED, the respective variations in the prices of products in the secondary (+ 1.2%), primary (+ 9.0%) and tertiary (+ 0.6%) sectors contributed to the quarterly increase in the general level. prices in Togo.

On a year-over-year basis, the general price level increased by 3.0% compared to April 2020 as a result of the increase in prices for the consumption functions Food products and non-alcoholic beverages (+ 5.4%), Restaurants and Hotels (+ 3.6%), Communication (+ 10.4%), Housing, water, gas, electricity and other fuels (+ 1.1%), Miscellaneous goods and services (+ 2.1%), Articles of clothing and shoes (+ 0.8%), Leisure and culture (+ 1.6%), Furniture, household items and routine household maintenance (+ 1.2%), Education (+ 1.6%) and Alcoholic beverages, tobacco and narcotics (+ 2.4%).

In contrast, decreases were noted respectively for the Transport (-4.6%) and Health (-0.9%) functions. As for secondary nomenclatures and in relation to the state of products, INSEED notes that the increase observed year-on-year is the result of the increase in the prices of products excluding energy and fresh products (+ 3.4%), fresh products (+ 4.7%) and lower prices for energy products (-4.9%). With regard to origin, this annual change is mainly explained by the 4.8% increase in the prices of local products. As for sustainability, the increase in the general price level at the national level was mainly influenced by the increase in the prices of non-durable products (+ 3.2%) and services (+ 4.5%).

Concerning the production sectors, the annual increase in the general price level results from the increase in the prices of products in the secondary (+ 1.5%), tertiary (+ 4.5%) and primary (+ 6.8%) sectors. ). The inflation rate calculated on the basis of the average indices of the last twelve months at the national level, remained stable at 2.0%.

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