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Gasoline Prices Fueled Inflation
The hikes in the prices of fuels
and electricity accelerated
inflation in May.
The National Statistics and
Census Bureau (INEC in Spanish)
reported that consumer prices
went 1.58 percent up in May, the
largest monthly variation since
last November.
The hike took the cumulate
inflation for the last 12 months
to 11.86 percent.
In the first five months this
year, inflation has increased by
4.31 percent. According to
analysts, inflation will remain
at an average 12 to 13 percent
the remaining months of this
year.
Were this to happen, the
inflation goal set by the
Government for the year 2006, 11
percent, would be overshot.
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