Price Stories in West Africa – Economic Analysis

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Over the past month, countries like Benin, Ivory Coast and Togo have reported lower inflation in annualized terms. Even so, consumer price inflation was in double digits for six of the fourteen countries – Ghana, Sierra Leone, Nigeria, Burkina Faso, Gambia and Guinea (in descending order). With regard to food price inflation, this is true for ten countries. Likewise, the current rate of inflation is more than double the five-year average of ten countries. It is an environment associated with political and business innovation, as well as political risk.

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