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Regional bank lowers W/Africa inflation forecast
Saturday, 20 November 2010 00:38
Reuters - Inflation across West Africa, a zone including Senegal and Ivory
Coast, will average 1.2 percent at the end of the year compared to 1.3 percent in September, the region's central bank said on Friday.The forecast is a downward revision of the BCEAO bank's previous estimate of year-end inflation around 1.6 percent.
It underlines the relatively low inflation in the region despite the bank's warning in September of a risk linked to a surge in wheat prices earlier this year.
The eight countries in the single-currency West African Economic and Monetary Union (UEMOA) zone are Benin, Ivory Coast, Guinea Bissau, Senegal, Togo, Burkina Faso, Niger and Mali.
Soaring global wheat prices earlier in the year were largely linked to drought and fires in Russia, which had been the world's No. 3 wheat exporter before it imposed an export ban this summer.
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