Algeria: Consumer Prices Rose By 5.4% in Early 2008

Consumer prices in Algeria rose by 5.4 % in the first five months of 2008, the country’s statistics office said on Thursday. The office attributed the rise to a “sharp increase” in food prices (10.5%) including a 6.8% hike for fresh produce and 14.3% for the food industry.

Manufactured goods increased by 0.90% while those of services went up by 0.70% in the review period.

The annual inflation rate (May 2007 to May 2008) was 6.3%, the statistics office said.

Experts said the increase is mainly due to the soaring prices of raw materials on world markets.

Except for the prices of sugar and sweets, which dropped by 6.4% and to a lesser extent those of beef and beef offal (0.60%), all other foodstuffs were up in the May 2007 to May 2008 period.

Oils and fats (48.7%), tea, coffee and tea (36.5%), fresh fish (23.1%), fruit (19%), chicken and eggs (18.2%), vegetables (10%) as well as milk, cheese and derivatives (9%) are the hardest hit by inflation.

There were also increases for bread and cereals (8.2%), potatoes (6.2%), mutton and offal (2.5%).

Source African Press Agency

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