2010 inflation rate at 3.8%

The full year average inflation rate last year was 3.8 percent, slightly higher than 2009’s 3.2 percent. Monthly inflation rate from January to August 2010 was averaging about 4.1 percent, but was later pulled down with average inflation rate from September to December of only about 3.1 percent.

The projected low, stable inflation rate for the next few months may be spiked by higher world oil prices which have hovered above $90 a barrel in recent weeks due to the bitter winter in the northern hemisphere.

Locally, new borrowings by the government to finance high public debt may not help keep the 3 percent or lower inflation rate.

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