Lower food prices check inflation in November
-annual rate of 6.3%
Stabroek News
January 19, 2003

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Consumer prices as monitored in the Urban (Georgetown) consumer Price Index (CPI) basket of goods and services reflected a marginal increase of 0.1% during November.

According to the Guyana National Bureau of Statistics (GNBS) the year to date inflation rate from December 2001 to November 2002 measured 6.0%, while on an annual basis, when comparing November 2001 to November 2002, the Georgetown Index rose by 6.3%.

A press release from the Bureau said the marginal increase in prices in November was due primarily to an overall decrease of .3% in prices in the food group, the heaviest weighted category. This decrease resulted from downward price movements in the sub-categories meat, fish and eggs by 0.1%, condiments and spices by 0.6%, vegetables and vegetable products by 4.3%, alcoholic beverages by 0.3% and non-alcoholic beverages by 0.7%. Increases in the sub-categories of cereals and cereal products by 0.1%, pulses and pulse products by 0.5%, fruits and fruit products by 5.3%, sugar and honey related products by 2.5% and prepared meals by 0.2% did not reverse the overall downward price trend in the food group.

There were marginal increases in the prices of other goods and services (the lower weight categories in the basket). The retail prices of the footwear and repairs group increased by 0.2%, the furniture group by 0.2%, transport and communication group by 1.7% of which sub-categories of personal transport equipment rose by 0.5%, operations of personal transport and personal transport services by 0.3% and 5.3% respectively. The miscellaneous goods and services group also recorded a small increase of 0.2%, of which sub-categories goods for personal care (0.3%), expenditure in restaurants (0.2%) and packaged tours contributed (0.6%), the release added.

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