Economy / Guyana
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Macroeconomic Forecast Guyana
April 2008 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Inflation in 2007 hit 14.1%, compared to 4.2% the previous year. The key drivers were a combination of elevated food and energy prices, with food prices having risen by 20.6%, compared to 6.1% in 2006. The other important factor was the introduction of a new VAT regime as part of the government's fiscal reform program, which saw dramatic consumer price rises. As such, we expect inflation to slow down towards the region of 11.0% in 2008, as elevated food prices - particularly that of Guyanese staple, rice - persist.