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Friday 18 June 2021
HomeNewsBenin records annual average inflation of 3.2% since 2001

Benin records annual average inflation of 3.2% since 2001

The inflation rate in Benin fell from 4% in 2001 to 2.7% in 2011, with an annual average of 3.2%, according to the recently released report on the Beninese economy released by the Council for Economic Analysis.

The report noted that in 2008, Benin registered a record inflation rate of 7.9%, mainly attributable to high oil prices, power cuts and the food crisis.

The high cost of goods and services in 2008 led to the worsening of the living conditions of the people, despite the measures taken by the government to curb the increase in the prices of basic commodities.

The report indicated that the average growth recorded during the period is 3.8%, which is far lower than the 7% required for significant poverty reduction.

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