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Algeria inflation rate rises to 9.6%

The Bank of Algeria [Twitter]
The Bank of Algeria [Twitter]

The inflation rate in Algeria increased to 9.6 per cent at the end of August, amid the rise in the prices of basic commodities globally and its impact on local markets, Anadolu reported.

Deputy Director-General of the Algerian National Office of Statistics, Hamid Zaydouni, revealed the rate during a hearing at the Finance Committee of the People's National Assembly.

The Algerian market recorded an inflation rate of 7.23 per cent during 2021, the highest in nearly three years.

Algeria is witnessing an unprecedented rise in the prices of various products, some of which have increased by more than 100 per cent, amid warnings by consumer protection associations that the rise would weaken people's purchasing power.

The high prices have affected subsidised goods such as cooking oils, semolina and farina.

Over the past three years, the inflation rate in Algeria ranged between 3.5 and 7.5 per cent, according to previous data from the National Statistics Office.

A few days ago, Algerian President Abdelmadjid Tebboune announced increases in the salaries of pensioners as well as teachers and nurses and a raise to the unemployment benefit from 2023.

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