2011 Ended with inflation of 7.76%

The Central Bank reported that inflation annualized December 2010 - December 2011, as measured by the variation of the price index to the consumer (IPC), was 7.76%, while the underlying, which measures the inflationary trend of monetary origin, isolating the effects of shocks by exogenous factors to monetary policy, price was 5.19% for the same period.

The institution explained that inflation annualized of 7.76% was basically due to hikes in the price of oil on the international market and the main agricultural products, which impacted on increases in the prices of transport services, fuels, electricity and food and non-alcoholic beverages, which together provided 5.55 percentage points to growth in the CPI, explaining the 71.52% of inflation in 2011.

inflation in December
in his report, the Central Bank specifies that inflation in December was 0.11%, u000awith regard to November 2011, mainly due to the fall of - 0.69% in the rate of the transport group, which by its high weighting in the composition of the family basket, contributed to its moderate increase. To the contrary, affected the index in the Group food and non-alcoholic beverages, to experience a variation of 0.57%.

The Studio detailing that the variation of - 0.69% in the group transport index is due to the reduction in the prices of the petrol premium (- 2.49%), regular (- 2.57%), diesel (- 0.61%) and liquefied gas for vehicles (- 1.01%), due to the weekly settings arranged by the Ministry of industry and trade, in compliance with law 112-00 of hydrocarbons.

In contrary reported increases in the rates of air transport services (9.84%) and public cars (0.87%).

Food and non alcoholic beverages group experienced a growth of 0.57% on u000aNovember.

Price increase
the ECB highlights that the articles of greatest incidence were fresh chicken (6.04%), eggs (6.22%), plantains (2.09%), onions (6.74%), current pork meat (2.40%), potato (5.82%), Lemon Sour (17.46%) and avocado (4.49%). However, other goods experienced reductions in prices, as they were green guandules (- 14.82%), cassava (- 5.25%), peppers (- 12.43%), tomatoes (- 18.66%), rice (- 0.23%), sugar cream (- 1.32%), and garlic (- 2.60%).

The report further States that the variation of the index of tradable goods, those that can be exported and imported free of restrictions, was - 0.34%, attributable mainly to the reduction in the prices of fuels, cars, and some food items.

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