Inflation threatens Algerian economic stability, experts say

The Algerian inflation rate has reached 8.9% in 2012 in comparison to 4.5% in 2011, figures released by the Census National Office. The same figures reveals that consumption prices hiked nearly by 100% in comparison to 2011.

The office linked this galloping inflation to the unleashing price increase of the agricultural products that reached 21% while the other food commodities registered an increase of 12.2%. Meanwhile, the prices of services increased by 5.02%.

Potato prices, jumped by 36. 03%, mutton by 30.28%, chicken prices by 20.3% and fish by 13.35%. Drink products increased by 14%.

The chairman of the Algerian Economic experts Forum Chebaiki Saadane has asserted that the alarming increases threaten the economic stability of the country, on account the failure Of the government’s policy to diversify sources of incomes.