Annual inflation down to 1.64% in May in Algeria

GMT 03:53 2014 Wednesday ,25 June

Arab Today, arab today Annual inflation down to 1.64% in May in Algeria

Governor of the Bank of Algeria Mohamed Laksaci
Algiers - APS

The annual inflation rate stood at 1.64% by mid-May against 3.26% in December 2013, announced Tuesday Governor of the Bank of Algeria, Mohamed Laksaci, quoting the National Office of Statistics (ONS).
"The disinflation process started in February 2013 continued throughout 2013 and during the first five months of 2014," announced Laksaci during a conference on the modernization of bank financing of SMEs in Algeria.
Thus, the inflation fell to 1.64% in May against 3.26% at the end of last December, added Laksaci for whom the performance in terms of inflation over the past 15 years, except 2012 where the evolution of the price increase has exceeded 8%, "is acquired for monetary stability in Algeria."
In 2013, the annual inflation rate reached 3.3%, after sharp acceleration of inflation of 8.9% recorded in 2012. For 2014, the government banks on inflation of 3.5%.
The control of the inflation rate constitutes a "constant concern" of the public authorities.
The government embarked on a policy of the preservation of purchasing power of the citizens, through supporting the prices of first need products and services, which allowed to decrease the inflation rate and maintain it at "reasonable" level.

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