The price competitiveness of the Senegalese economy slightly improved by 0.7 percent in March 2014, APA reported Thursday from the Dakar-based Department of Forecasting and Economic Research (DPEE).This situation reflects the positive impact of the advantageous inflation differential (minus 1.1%), however reduced by the appreciation of the CFA franc against partners currencies (over 0.4%), DPEE explains.
On a year-on-year basis, in spite of an inflation of minus 2.1%), the appreciation of the CFA franc by more than 5.8 led to losses of competitiveness estimated at 3.7%.
Alongside partner members of the West African Economic and Monetary Union (UEMOA), the advantageous inflation differential, according to the DPEE, facilitated the strengthening of price competitiveness by a monthly 0.6% per month.
Compared to the Euro Zone partner countries, the competitiveness of the economy has improved by 1.5 % a month, with a favorable level of domestic prices.
( Courtesy APA & AGENCIES ……… Source ……… Our Freelance Contributor in Dakar)