While noting that the Guyana Government has implemented a series of measures to ease the cost of living burden, a recent Inter-American Development Bank (IDB) report has raised concerns over the inflation level here and its impact on purchasing power.
According to the report `Headwinds facing the post-pandemic recovery’, the annual inflation rate was 2.1 percent in December 2019, remained subdued through 2020 and early 2021, and then reached 6.9 percent in June 2021.
“The inflation rate averaged 6.6 percent in the second half of 2021 and 6.2 percent through September 2022. More notably, food prices have seen even higher rates of inflation, averaging 11.2 percent this year through September,” said the report.
