Half-year inflation at 5.8%
Overall price levels increased by 5.8% for the first half of the year, a statement from the Bureau of Statistics said yesterday. This compares with 3.2% and 3.4% for the same periods in 1997 and 1998 respectively. The government had projected an inflation rate of 5.5% for the entire year. The release said that there were significant increases in the sub-groups of oils and fats amounting to 20.8%, condiments and spices of 14.5% and fruits of 33.2%. At the individual item level, increases in the prices of fry oil, coconut oil, curry power, red pepper, Milo, Ovaltine and cigarettes were recorded. The release said that the depreciation of the Guyana dollar caused increases in air fares and packaged tours and there were also hikes in gasolene, electricity rates and medical expenses. In June of this year, increased prices were noted for fry and coconut oil, eggs, chicken and vegetables. And in the non-food items, there was an increase in medical expenses.
|