INEGE publishes Evolution of Inflation during 4th Quarter and Annual for 2018

On 25th January, at the institution headquarters, the Director General of the National Statistics Institute, Ricardo Nsue Ndemesogo, oversaw the presentation of the work before all members of staff, and indicated that the average monthly rate of inflation was 1,1% during the fourth quarter of 2018.

This figure is 1,1% higher than that recorded for the same period in 2017, due mainly to the positive contribution of the groups of food products and non-alcoholic drinks (0.4%); transport (0.2%); furniture, domestic equipment and everyday household maintenance; health; education; and restaurants and hotels, with a rise of 0.1%.

Furthermore, inflation during the 4th quarter was cushioned by the groups of housing, water, electricity, gas and other fuels, with an inflation of -0.2%. The average monthly variation in the general index was -0.4%, and the cities with greatest inflation during the period in question were Ebebiyin -with a rate of 3.5% during the fourth quarter, an evolution explained by the increase in price of food products, non-alcoholic drinks (3.8%); Malabo, Mongomo and Evinayong, with 1.7%, 2.4% and 0.9% respectively.

The report went on to state that the city of Bata recorded a negative average rate of inflation during the 4th quarter of -0.2%. The monthly rates per city in the month of October were: Malabo, 1.6; Bata, 0.5; Ebebiyin, 3.3; Evinayong, 0.9 y Mongomo, 1.1. In the month of November: Malabo, 1.7; Bata, 0.5; Ebebiyin, 3.3; Evinayong, 0.9 y Mongomo, 1.7. In the month of December: Malabo, 1.8; Bata, 0.1; Ebebiyin, 3.6; Evinayong, 1.2 y Mongomo, 1.7.

He also indicated that the evolution of the rte of inflation for 2018 was 1.3%: The year ended with an average rate of inflation of 1,3% with respect to the previous year. This evolution is chiefly explained by an average increase in the prices of the following groups of products; food products and non-alcoholic drinks, with an increase of 0.5%, influenced by products such as frozen turkey, with an increase of 2.6%, onion at 14.1% and pumpkin at 8%.

The report concluded that the annual rate of inflation, which was cushioned by housing, water, gas and other fuels, with a decrease of 0.2% and, in relation to the annual rate of inflation by city, the highest was recorded in the city of Ebebiyin, with an annual average of 3.6%. In second position is the city of Malabo, with an average rate of 1.8%; in third and fourth positions ate the cities of Mongomo (1.7%) and Evinayong (1.2%). Finally comes the city of Bata, with a rate of inflation of 0.1%.

Source: Equatorial Guinea Press and Information Office

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