Algeria 2007 inflation averages 4.6%, says Central Bank Governor
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Inflation in Algeria averaged 4.6 percent nationally in 2007, its highest level since 2004, and 3.5 percent in the capital Algiers, central bank governor Mohamed Laksaci said in remarks published in Algiers .
Inflation in Algeria averaged 4.6 percent nationally in 2007, its highest level since 2004, and 3.5 percent in the capital Algiers, central bank governor Mohamed Laksaci said in remarks published in Algiers .
A local newspaper quoted the Banque d’Algerie Governor as saying the rise mirrored a global climb in inflation as well as higher food prices locally.
Nevertheless, inflation was under control, he said.
“We note a clear trend to higher prices in a context characterised by a resumption of inflation globally,” he was quoted as saying.
“Strong inflation in food product prices is attributable to fresh agricultural products whose prices rose by 7.2 percent in 2007,” Laksaci said, referring to vegetables and fruits.
“These rises stem as much from the weakness of local supply as from speculation in a market that is little organised and weakly regulated,” he said.
Inflation was 2.5 percent in 2006. The government targeted 3.5 percent inflation for calendar 2007 and 3.0 percent in 2008.
On January 15, the National Statistics Office was quoted as saying that Algeria ‘s consumer price inflation for 2007 averaged 3.5 percent. The newspaper story made no reference to the Jan 15 report.
