Annual inflation at 31.6 percent

The General Statistics Bureau (ABS) recently indicated in its Consumer Price Index that the prices of goods and services went up with 31.6% in May 2020. The ABS calculated the annual inflation by comparing the prices of May 2020 with those of May 2019. The monthly inflation which was calculated by comparing the prices of May 2020 with those of April 2020 is at 4.9%. In April the prices went up with 8 % while they went up with 10% in March. The prices for May 2020 were ‘recorded’ from May 4 until May 30. The price of bread and bread products rose with 2.3% while meat products became 14.5% more expensive in May. Fish, fish products and shrimp became 3.7% more expensive while juices, water and beverages experienced a 4.3% price hike. Food products and nonalcoholic drinks cost 7.8% more while alcoholic drinks and tobacco cost 7.2% more. The ABS also indicated that the prices of household appliances and goods surged with 3.9%. Butter and cooking oils also became 16.6% more expensive. The consumer prices are divided in 12 main groups and are used to calculate the inflation figures. The Consumer Price Index measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households. There are 316 items in Suriname’s CPI and the prices are ‘recorded’ in the districts Paramaribo, Wanica, Nickerie (including Wageningen), Coronie, Saramacca and Commewijne.