Inflation Outlook Positive for WAEMU as Prices Expected to Drop

The West African Economic and Monetary Union (WAEMU) is poised to continue witnessing a decline in consumer product prices into 2024. This trend is being attributed to an increase in local food production and a decrease in global prices for food and petroleum products.

According to Africa News Agency, projections are set for a 5% decline in world prices of food products imported by the union in 2023, and an even steeper 15.1% decrease in 2024, following a substantial 35.7% surge in 2022.