Ivory Coast Inflation Rate Rises 2.2% in September, Agency Says

Consumer prices in Ivory Coast, the world’s biggest cocoa producer, rose 2.2 percent in September from a year earlier as food and housing costs increased, the country’s National Institute of Statistics said.

Inflation accelerated 1.9 percent in August, the Abidjan- based statistics office said in an e-mailed statement today. Prices rose 0.1 percent in the month.

Ivory Coast, the biggest economy in the eight-member West African monetary union, is recovering from a post-election crisis in 2011 that largely halted exports, shut banks and shops and forced the stock exchange to relocate to Mali. After contracting 4.7 percent last year, the nation’s economy is expected to grow 8.6 percent in 2012, the International Monetary Fund said on Oct. 3.

Food price increased 2.4 percent from 1.8 percent in August while prices for housing and utilities increased 3 percent from a year earlier, the agency said. Transportation costs rose 2.3 percent while health-care prices fell 1 percent, it said. Communication costs rose 2.2 percent.

To contact the reporters on this story: Olivier Monnier in Abidjan at omonnier@bloomberg.net; Baudelaire Mieu in Abidjan at bmieu@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net

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