Public Management

Côte d'Ivoire's annual inflation nearly stable between August and September 2023

Côte d'Ivoire's annual inflation nearly stable between August and September 2023
Tuesday, 31 October 2023 17:33

(Ecofin Agency) - In September 2023, the annual headline inflation in Côte d'Ivoire was primarily driven by the prices of food products and non-alcoholic drinks, as well as that of transport, housing, water, gas, electricity, and other fuels, as per the INS.

Overall annual inflation in Côte d'Ivoire slightly fell to 4.9% in September this year, in comparison to 5% the previous month, according to data provided by the National Institute of Statistics (INS).

The latter attributed the slight setback to higher prices for food and non-alcoholic beverages (+0.8%), transport (+1.1%), as well as housing, water, gas, electricity, and other fuels (+0.6%). Like other economies in the world, Côte d'Ivoire is enduring the ongoing global inflationary pressures, compounded by particular socio-political tensions in West Africa.

This situation led the Ivorian government to take several short- and medium-term measures aimed at safeguarding people's purchasing power and containing the effects of rising prices. Last September, the government temporarily suspended the export of local rice and sugar until the end of the year due to the severe price pressures experienced in the local market in recent months.

On a regional level, the inflation rate within the West African Economic and Monetary Union (WAEMU) exhibited a downward trend between the first and second quarters of 2023, decreasing from 5.8% to 4%. However, the region’s central bank raised its main key rate to 3.25% to cope with the rising regional uncertainties and persistent global inflationary pressures, among other factors.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• WAEMU’s tax revenue remains far below the 20% benchmark, stuck at 14% of GDP• IMF projects target may not be reached before 2048, possibly as late as...
Emerging Africa & Asia Infrastructure Fund (EAAIF) raises $325 million in new round Funds to support infrastructure in renewable energy,...
• The Islamic Development Bank will provide Algeria with $3 billion over three years.• Funds will support development projects including expansion...
• IFC plans to grant a $30 million loan to Banque El Amana, pending June 2025 board approval.• The funding will increase credit access for MSMEs,...
Most Read
01

The African Development Bank has approved a $304 million loan to Botswana to support the southe...

African Development Bank Approves $304 Million Loan to Support Botswana's Fiscal Stability and Economic Reforms 
02

BRVM and Africa50 signed a deal to create new infrastructure financing tools The plan inclu...

BRVM and Africa50 Partner to Fund Infrastructure in WAEMU
03

The Economic Community of West African States (ECOWAS) parliamentarians met in Lomé from May 6 to 9,...

ECOWAS Parliament Calls for Airfare Tax Cuts to Make Flying Affordable
04

Nigeria’s audit industry grew 65% in 2024, reaching 28.2 billion naira ($14.4 million). KPMG, EY,...

Big Four Hold 99% Share of Nigeria’s Audit Market in 2024
05

Africa’s digital economy is growing rapidly, and the demand for data storage, processing power, and ...

Safaricom and iXAfrica Launch East Africa’s AI-Ready Data Centre Services
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.