Ivory Coast: Inflation weighs on households

Ivory Coast
Regulation & Compliances
Market & Price Trends
Published Feb 24, 2024

Tridge summary

In January 2024, annual headline inflation fell to 4.2% from 4.4% in December 2023, due to a decrease in prices of food products, non-alcoholic drinks, transport, clothing, and footwear. This is in line with a broader trend in the West African Economic and Monetary Union. The Ivorian government had taken steps in 2023 to safeguard the purchasing power of its citizens, including a temporary halt on exports of local rice and sugar, and VAT exemptions on certain natural food products for 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Annual headline inflation reached 4.2% in January 2024, down 0.2 percentage points from the rate of 4.4 recorded in December 2023. This downward trend is mainly due to a decline in the prices of food products and non-alcoholic drinks (- 2.5%), Transport (- 0.5%) as well as clothing and footwear (- 0. 5%), indicates the INS. This decline in inflation is part of a sub-regional trend in the West African Economic and Monetary Union where we observe a move from 4% to 2.9% between the second and third quarters of 2023. In 2023, the Ivorian government took preventive measures to protect the purchasing power of the population, in particular through the temporary suspension of exports of local rice and sugar until the end of the year. The Ivorian state had also announced VAT exemptions on certain ...
Source: Lobservateur
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