Tunisia: Annual Inflation Rises to 7.8%

  • 7/7/2018
  • 00:00
  • 3
  • 0
  • 0
news-picture

The inflation rate in Tunisia rose to 7.8 percent in June after it had stabilized at 7.7 percent in April and May, said the National Institute of Statistics (INS) Thursday in its monthly newsletter. The INS attributed this increase to a 9.9 percent hike in transportation costs and 8.6 percent hike in food prices. Meat prices increased by 15.9 percent, fruits by 15.4 percent, fish by 10 percent and cooking oils by 8.8 percent. Economic specialist Saad Bou Makhla noted that Tunisia has not witnessed such high inflation rates in over 17 years. Some studies found that the majority of consumer goods witnessed record price hikes in the past eight years, he added. Sugar prices rose from 950 millieme to 1.5 dinars, representing a 39 percent increase. Poultry prices rose 67 percent, and the price of olive oil rose 109 percent from 5.5 to 11.5 dinars. Benzene prices rose more than 42 percent, the price of canned tomatoes increased 74 percent and cement prices rose from 4.8 to 8 dinars. Tunisia’s Consumer Defense Organization (ODC) and the Tunisian Organization for Consumer Information (OTIC) called for boycotting a number of products that witnessed a price increase. OTIC chief Lotfi Riyahi said that a boycott was a significant and effective way to defend the purchasing power of consumers and re-balance the cost of living in the country. Tunisia is aiming to achieve growth rates of no less than 3 percent to revitalize the economy and control the high levels of inflation. Moodys, however, predicted growth to be restricted to 2.8 percent in 2018 and 3 percent in 2019, compared to a maximum of 1.9 percent growth in 2017.

مشاركة :