Inflation rate for 2000 was 5.9% -Bureau of Statistics Stabroek News January 23, 2001 The Bureau of Statistics says the inflation rate for 2000 was 5.9%. This figure is below the 9.5% projected in the 2000 budget. In a statement, yesterday, the Bureau said the December Consumer Price Index (CPI) rose by 1.1% over November?s 161.2 points. Flattened demand in the food sector was a major factor for last year?s reduced inflation, Chief Statistician Lennox Benjamin told Stabroek News, yesterday. He explained that because the market is swamped with more sellers, the price for food has been dampened, and so ?the slowdown in the movement of prices carries the greatest weight of the index [CPI] with it.? With more sellers in the marketplace as well, ?there is no scope for upward pressure on the price...or on the retail market...? adding that many sellers were cutting their profit margins to accommodate the ?flattened demand?. The release from the Bureau said the increase of 5.9% in the average level of all prices was broad-based and fuelled by significant increases in prices for both food and non-food items. According to the release the increases were food, 4.3%; housing, 13%; education, recreation and cultural services, 15.1%; and miscellaneous, 12.8%. There were significant hikes in the prices of some key food items. The price of split peas rose 17.3%, channa by 23.6%, red beans 24.5%, stew beef 12.4%, eggs 20.5%, English potatoes 13%, onions 15.9% and garlic 11.9%. The price of apples jumped 41.6%. In the non-food category, major contributors to the overall inflation rate were repairs and maintenance (15.1%) electricity (31%), kerosene oil (29.7%), security service (30%), bleach (10%), domestic gas (9.4%), school and college fees (19.2%), private tuition (19.7%), newspapers (28.4%), stationery (14.1%), cinema (28.6%), toilet soap (12.6%) and hairdressing services (40.2%). The observed inflationary effect on the CPI for December, meantime, can be attributed mainly to the increase in prices of the food group? said the release. It said, this group recorded a 2% increase in the prices of food items. The subgroups responsible for the increase were pulse and pulse products (2%), meat, fish and eggs (8.3%), fruits and fruit products (12.2%) and alcoholic beverages (3.2%). Follow the goings-on in Guyana in Guyana Today