Annual inflation rate reaches 7.3% in June

Consumer prices in Algeria increased by 8.7% in June, compared with the same period in 2011, leading to an inflation rate by 7.3%, against 6.9% in May, the National Office of Statistics (ONS) said Saturday. Consumer price index rose by 8.67% in June 2012, compared to the same period last year. The increase was mainly driven by the rise of food prices by 10.76%, with 17.3% for fresh agricultural produce and 5.4% for industrial food products, according to the Statistical Office. Price hikes in in June concerned some fresh food, especially sheep meat (29.8%), fresh fruit (28.2%), vegetables (8.4%), potato (11.2%), chicken (9.2%) and beef (8.2%). Industrial food products have all experienced increases, the most important concerned the non-alcoholic beverages (19.67%), sugars (10.8%) oils and fats (4.8%), milk, cheese and derivatives (2.43%), the source added. Manufactured goods increased by more than 7.7% and services by 5.3% in June, compared with the same month in 2011, the office underlined.