• Inflation on the Rise

    05 Apr 2013
    Seychelles Inflation

    Consumer prices in Seychelles rose 0.5 percent in March, pushing the year-on-year rate of inflation higher for the third straight month to 6.5 percent from 6.2 percent a month earlier, official data showed on Friday. The Victoria government has said inflation is the biggest risk facing the import-dependent Indian Ocean archipelago’s economy. Food prices excluding fish rose 0.8 percent month-on-month while non-food costs rose 0.4 percent, led by a 2.1 percent increase in the price of alcoholic beverages, the National Bureau of Statistics said. Transport costs bucked the trend, falling 0.9 percent during the month of March. Seychelles introduced a raft of steps to liberalise its once highly-controlled economy after defaulting on a eurobond…