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Wednesday, May 31, 2023

Inflation in 2004 Highest in Five Years

INFLATION of the colón in 2004totaled 13.13%, the highest yearly total inthe past five years, the National Statisticsand Census Institute (INEC) reportedTuesday.According to the state institute, oilproducts were most affected by high inflation,the price of which rose 35.89% comparedto the year before.Other factors that influenced the highinflation rate were electricity (16.9%),urban transport (10.3%), water bills(30.5%), and the prices of some basicproducts such as rice (8.9%).Since 2000, inflation has maintained arange from 9.68%-10.96%, but the rise inprices of oil products on an internationallevel affected inflation in 2004.


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