In October 2024, consumer prices rose by 0.3% compared to the previous month and by 4.7% on average
over the last twelve months, an increase supported by the prices of local goods and services.
Compared to the previous month, household consumer prices rose by 0.3%, after an increase of 0.8% observed in the previous month. This increase in prices is mainly due to the 0.3% increase in food prices and a 0.7% increase in transport costs. The increase in food prices is largely due to higher prices for fresh fruit and root vegetables, fruit and meat, which are sensitive to seasonal fluctuations and the supply chain. On the transport side, the rise in prices is mainly attributed to the increase in the cost of smuggled fuel, commonly known as ‘zoua-zoua’ or ‘fungen’, from Nigeria. Year-on-year, compared to October 2023, inflation reached 4.5%, compared to 4.4% in September 2024. This slight increase is the second consecutive acceleration, suggesting a possible reversal of the trend in the coming months. On average over the last twelve months, the inflation rate is 4.7%. This inflation is mainly fuelled by a 5.7% increase in food prices, as well as a notable 13.1% increase in transport costs.
