The General Directorate of Economy in Gabon has announced that consumer prices will rise in 2011, with an average provisional inflation rate that would reach 7.6 per cent, the insitution said in a report obtained by PANA.
According to the report, “transport posts will increase by 12.4 per cent; communications by 9.5 per cent; housing, water and electricity 9 per cent and food products 7.5 per cent in 2011.
The General Directorate of Economy warned that “these increases would result from fuel prices in relation to the mechanism of indexation of prices to oil products and the evolution of the prices of the barrel of oil. But also from the increase of the prices of imported products.”
Besides, the report specified that “the Gabonese economy would benefit from the positive effects of the world economic recovery, through the good performance of mining exportations.”
According to the report, state receipts would be increased by 3.8 per cent and expenditure not including debt would increase by 33.9 per cent