ECONOMY

Economy : Algeria’s economy achieves a low 2% inflation rate

ALGIERS- The evolution of consumer prices in Algeria hit 2% until November 2019, the National Statistics Office (ONS) told APS.

The year-on-year evolution of consumer prices until November 2019 is the average annual inflation rate calculated by taking into account the 12 months, from December 2018 to November 2019, compared to the period from December 2017 to November 2018.

As for the monthly change in consumer prices, which is the gross consumer price index in November 2019 compared to October, it decreased by 0.6%, according to the same source.

In terms of monthly change and by product category, food prices decreased by 2.1% in November compared to the previous month. This monthly decline in food prices is explained by a 4.2% drop in prices of fresh agricultural products.