Bank of Guyana - Annual Report 2007

In 2007, domestic inflation rose to its highest level in nearly two decades, notes the latest Annual Report from the Bank of Guyana.

Inflation was 14% and significantly higher compared with2006, when prices rose by 4.2%. This rise in prices was caused by escalating crude oil and food prices, the report explains. However, growth in the world economy coupled with higher commodity prices contributed positively to the performance of the Guyanese economy as real GDP increased by 5.4%, exceeding the 4

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