Prices fluctuate in all countries. However, the degree of price fluctuation over a period of time indicates economic stability or instability. For example over the past decade, the U.S. has maintained an inflation rate of under 3%; it currently stands at 1.8%. The U.K. also stands at 1.9% in 2009 I believe. Compare this to the Gambia's 6-17% inflation rate. It is simply not possible to maintain economic development and prosperity in such a high inflation. Furthermore, the worst thing any economist would advise during a period of inflation is to raise salaries/wages by 20%, which in effect is expanding demand and therefore more price increase of goods and services. You know Waa Juwara (oops, sorry Madiba) you guys rely too much on myth, but do me a favor. Please give the statistics of the Gambia's food production and consumption. We will all see the disparity between your rhetoric and the reality...
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Posted - 05 Jan 2010 : 12:39:44
