Togo: In 2023, the government will pay special attention to inflation

Economic governance
Tuesday, 15 November 2022 11:49
Togo: In 2023, the government will pay special attention to inflation

(Togo First) - The government of Togo will keep paying special attention to inflation in the coming months. The authorities said this last Friday, November 11, after the council of ministers held that day. 

The government promised to keep the inflation “under control”, in a context where it has been soaring past unseen levels in recent months. 

A controlled inflation

1 indice

This indicator has never been as high in the previous years but, according to data from the National Institute for Statistics, Economic and Demographic Studies (INSEED), it was stable in July and August 2022, grew slightly (2 base points) to 7.1% the following month, and 7.2% in October.

In September 2022, the general price level rose by 0.4% compared to June 2022 (quarterly). The change was driven mainly by an increase in the costs of transportation (+8.4%), housing, and domestic energy (the functions "Housing, water, gas, electricity and other fuels", up +3.8%). It should be noted that the prices of "alcoholic beverages, tobacco products, and narcotics" grew as well, by +7.3%, over the period.

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