Togo: Inflation at 4.1% in April 2024

Friday, 24 May 2024 17:38
Togo: Inflation at 4.1% in April 2024

(Togo First) - In Togo, the inflation rate stood at 4.1% in April, against 4.4% in March. The figure was disclosed by the National Institute of Statistics and Economic and Demographic Studies (INSEED).

Despite the slight slump, the general price level remained largely stable nationwide, with food prices being the exception.

Month-over-month, fresh product prices jumped 8.0%, while local products saw a 2.6% increase, outpacing the 0.3% rise in imported goods. Compared to January 2024, the general price level in April edged up 2.3%.

The uptick was primarily driven by categories like "Food and Non-Alcoholic Beverages" (+5.7%), "Housing, Water, Gas, Electricity, and Other Fuels" (+1.2%), and "Miscellaneous Goods and Services" (+1.1%). Transport costs saw a modest 0.4% increase from January.

Year-on-year, the general price level jumped 2.6% compared to April 2023, as indices rose across most categories tracked by INSEED, barring "Communication" and "Health".

Inflation in Togo has been volatile in recent years. It peaked at 15.83% in August 2008 and plunged to -26.77% in May 2010. The indicator is projected to average around 4.00% in 2025 and 3.60% in 2026.

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