Senegal’s Inflation Rate Drops to Lowest Level in Five Years

• Senegal’s inflation rate fell to 0.7% in July 2024
• GDP expected to rise by 7.1% in 2024, supported by the burgeoning oil and gas sector

Dakar, Senegal – Senegal’s inflation rate dropped to 0.7% in July 2024, marking the lowest level in five years, according to the National Agency for Statistics and Demography (ANSD). This decrease, down from 1.3% in June 2024, reflects a significant reduction in the Harmonised Consumer Price Index (HCPI), which fell from 129.1 in July 2023 to 128.2 in July 2024.