Latest update March 28th, 2024 12:59 AM
Apr 20, 2017 News
Historically, inflation in Guyana has tracked price increases in the United States.
With this trend in mind, the Economic Policy Analysis Unit (EPAU) of the Ministry of Finance is predicting that rising U.S. inflation may put upward pressure on prices in Guyana for 2017. The Unit said that this is partly due to rising prices for U.S. imports.
The Unit also noted the fact that the International Monetary Fund (IMF) released its January World Economic Outlook. According to the report, economic activities are projected to pick up in emerging markets and developing economies in 2017 and 2018.
The Unit said that another important point coming out of the report is the fact that growth prospects on the contrary, have marginally worsened, where financial conditions have generally tightened.
For advanced economies, the outlook has improved for 2017-2018, indicating somewhat stronger activity in the second half of 2016 as well as a projected fiscal stimulus in the United States.
Due to expected policy stimulus, China’s near-term prospects were revised upward, but down for India, Brazil and Mexico. Headline inflation rates have recovered in advanced economies with the bottoming out of commodity prices, but code inflation rates have remained broadly unchanged and generally below inflation targets.
Additionally, inflation ticked up in China as capacity cuts and higher commodity prices have pushed producer price inflation to positive territory after more than four years of deflation.
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
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