Togo: Inflation Falls to 6.6% in August

Tuesday, 19 September 2023 19:19
Togo: Inflation Falls to 6.6% in August

(Togo First) - After rising consecutively since April, the inflation rate in Togo fell slightly to 6.6% in August. This was recently disclosed by the country’s Institute for Statistics, Demographic and Economic Studies (INSEED). 

The source mainly attributes the decrease to a decline in indices across various consumption sectors. Notably, there were declines in "Food and non-alcoholic beverages" (-5.3%), "Housing, water, gas, electricity, and other fuels" (-1.0%), "Transport" (-0.3%), and "Alcoholic beverages, tobacco, and narcotics" (-2.7%).

More specifically, there was a significant decrease in the costs of food products like tubers, vegetables, fish, and various staples.

Excluding food products, prices nationally saw a marginal drop of 0.2%. Core inflation, which excludes energy and fresh products, also dropped by 0.3%.

The inflation rate, calculated based on the average indices of the last twelve months on a national scale, stood at 6.6% in August 2023. Excluding food products, the general price level saw a 0.2% decrease nationally. The core inflation, which measures monthly price index variations excluding energy and fresh products, declined by 0.3%.

Despite price pressures improving between July and August, compared to the same period in 2022, the general price level was up by 3.8%; a surge attributable to a general rise in costs in the post-Covid period.

Ayi Renaud Dossavi

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.