Algeria: runaway inflation not just linked to Ramadan

Year-end increase over 7%, food items up nearly 11%

23 July, 11:37

(ANSAmed) - Tunisi, July 23 - Inflation is galloping in Algeria with very high rates not just as a result of the traditional increase in prices during the month of Ramadan. In June consumer prices rose by 8.7% over the same month in 2011 according to the national statistics office, cited by Aps.

This puts the forecast for year-end inflation at 7.3% in 2012, up 0.4% over the forecast issued in May. Inflation has been rising steadily since the start of the year: 4.9% in January; 5.3% in February; 5.9% in March; 6% in April; 6.9% in May. Inflation in food prices, at 10.76%, is largely to blame. In particular the cost of fresh food has risen by 17.3% and of processed food by 5.4%. (ANSAmed).

ALL RIGHTS RESERVED © Copyright ANSA

Business opportunities

The information system of business
opportunities abroad

News from Mediterranean