West Africa's price narratives

Over the last month, countries like Benin, Cote d’Ivoire and Togo reported falling inflation in annualised terms. Even so, consumer price inflation was in double digits for six of fourteen countries – Ghana, Sierra Leone, Nigeria, Burkina Faso, Gambia and Guinea (in descending order). When it comes to food price inflation, this is true for ten countries. Similarly, the current inflation rate is more than double the five-year average for ten countries. It is an environment associated with policy and commercial innovation, as well as political risk.

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