While consumer prices rose only 0.9% in September 2019, they rose 2% over the same period in 2020, according to the Sector Conjuncture Note from the Ministry of the Economy and Recovery. With this increase, the average inflation rate over this period stood at 1.2% compared to 2.5% in 2019 over the same period.
During the first nine months of 2020, the evolution of consumer prices remained generally under control, with a slight acceleration in the third quarter. In fact, according to the Sector Conjoncture in France from the Ministry of the Economy and Recovery, the average inflation rate over this period stood at 1.2% compared to 2.5% in 2019 over the same period.
On a year-over-year basis, prices rose 2.0% against 0.9% in September 2019. This “increase in consumer prices is due to the maintenance of certain measures taken by the government as part of the response against the pandemic of Covid-19, thus causing dysfunction in market supply chains ”.
In addition, the rise in the prices of imported products in line with the 5% increase in the World Food Fund (FAO) index has also contributed to inflationary pressures. “The increase in prices was particularly observed in the following items:“ Food products and non-alcoholic drinks ”(+ 1.8%),“ Transport ”(+ 6.4%),“ Education ”(+ 2.6% ), “Communications” (+ 1.9%) and “Leisure and culture” (+ 0.3%) “, specifies the source.
It also notes that the measure to support the user fee for economically weak Gabonese (GEF) has made it possible to attenuate the increase in consumer prices in the following items: “Health” (-0.4%) and “Housing, water, gas and electricity and other fuels” (-1.3%).
