Senegal’s economy, in February, recorded gains in price competitiveness to the tune of 0.7 percent in monthly variation, according to data from the Directorate of Forecasting and Economic Analyses (DPEE).
These gains are made under the combined effect of the favorable inflation differential (-0.5 percent) and the depreciation of the CFA franc (currency having legal tender in Senegal) compared to the currency of partner countries (-0.2 percent).
Faced with partner countries members of the West African Economic and Monetary Union (Uemoa) and the Euro zone, respective gains in competitiveness of 0.8 percent and 0.4 percent are recorded in monthly variation, in connection with the differential of favorable inflation.
Year-on-year, competitiveness gains of 4.5 percent were recorded in February 2020, due to a favorable inflation differential (-4.1) percent, combined with a depreciation of 0.3 percent of the CFA franc, compared to the currency of partner countries.
Over the first two months of 2020, DPEE notes competitiveness gains of 3.4 percent, in comparison with the same period of the previous year, in connection with the depreciation of the CFA franc vis-à-vis partner countries’ currency (-1.4 percent) and a favorable inflation differential of 2.0 percent.
MS/te/fss/abj/APA