Food price rises as inflation hits 13.3 percent

by 5m Editor
20 September 2007, at 10:56am

GUYANA - Year-to-date inflation hit 13.3 per cent in July, an increase from 12.3 per cent in June, and 88 per cent of this one per cent rise has been attributed to the food index.

A press release yesterday from the Bureau of Statistics said that the Urban (Georgetown) Consumer Price Index (CPI) rose overall by 1 per cent, having moved from an index value of 246.1 in June to 248.6 in July.

"As a consequence, the cumulative effect on the overall increases in the price level for the first seven (7) months of this year is 13.3 per cent," stated the Bureau. The year on year inflation figure was not given by the bureau.

In explaining the marked increase the Bureau said that it must be noted that just two months viz: January and May which recorded the two monthly price spikes so far of 6.6 per cent and 2.5 per cent respectively account for approximately 70% of the cumulative price increase to the end of July.

Source: StabroekNews

5m Editor