INEC Announces Inflation Rate for October
The National Statistics and Census Institute (INEC) announced this week the results of the consumer price index for the month of October to be 141.106, which represents an increase of .47% compared to September.
The inflation rate for January-October of 2010 is 4.36%, higher than it was for the same period last year when it reached 3.16%
The groups of the index that represented the greatest positive variation were food and nonalcoholic drinks at 1.08, alcoholic drinks and cigarettes at 2.82 and rent and housing services at 1.84.
The price of tomatoes increased by 21.07%, and the price of potatoes increased by 22.26%. The prices of gasoline and eggs decreased by 1.97% and 10.19%, respectively.
In a press conference this week, the Central Bank (BCCR) announced its methods of controlling the increasing inflation rate which include a program to accumulate reserves of foreign currencies. During the months of September and October the BCCR bought US$80 million.
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