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FINANCIAL NEWS
Tunisia inflation advances to 6% in January
10 Feb 2013
(MENAFN) Official data showed that Tunisia’s inflation rate hit 57-month high at 6 percent in January, driven by rising food and clothing prices, Reuters reported.
According to the central bank, this is the highest inflation rate since April 2008. December consumer prices inflation stood at 5.9 percent.
Food and drink prices climbed 8.7 percent year-on-year while clothing and footwear gained 7.7 percent, the figures disclosed.
In October, central bank governor Chadli Ayari said the bank is not targeting a particular inflation rate but the most that should be tolerated is 5 percent.
Depreciation of the Tunisian dinar against the dollar contributed in part in triggering inflationary pressures in the North African country last year.
Although the national currency is now stable, Tunisia is running a trade deficit which hit USD7.48 billion last year, up from USD5.5 billion in 2011.
Tunisia said in January it asked USD1.75 billion loan from the International Monetary Fund to help stabilize its external position.
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