Africa > East Africa > Burundi > Burundi’s inflation slows to 18.8 pct yr/yr in May

Burundi: Burundi’s inflation slows to 18.8 pct yr/yr in May

2017/07/19

Burundi's inflation rate slowed to 18.8 % year-on-year in May from 19.4 % in April, thanks to a fall in food price increase on local markets, official data showed on Thursday.

Food inflation in the East African national rose to 27.8 % in the year to May, down from 30.2 % in April, the Institute of Economic Studies and Statistics (ISTEEBU) said.

The statistics board added that better harvests, observed in a large part of the country in the initial quarter of the year, contributed to the slackening of food inflation.

Next a drought and flooding in the landlocked East African country last year caused a significant food deficit, Burundi's government decided in April to lift some taxes and custom duties on imported food to help corral food prices.

A two-year-long bout of political unrest caused by the Burundian president's decision to run for a third term in April 2015 seriously hurt the economy, and the damage was compounded by cuts in aid from Western donors.

The International Monetary Fund (IMF) estimate flat economic increase in Burundi this year next a decline in 2016.

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