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General prices of goods and services would go up further after consumer inflation reaches 15.7%

Experts have posited that consumer inflation are expected to rise even further to 70% by the close of the year 2022.

This analysis comes on the backdrop of the official announcement of the 15.7% inflation rate by the Government Statistician. Many business consultants have explained that they are not surprised that our economy which used to experience a single digit inflation , has now blown into double digits .

Experts have advised that ,consumers should brace themselves for further increases in the foreign exchange rate as well as the inflation rate. They have analysed that , due to the global economic downturn, prices of general prices of goods and services are expected to rise further and are recommending the commencement of public discussions on how the indicator can be properly re-directed.

Many academicians have also suggested the establishment of more public factories and farms to help increase the supply of goods and services to consumers in order to reverse the persistent increase of prices of goods and services.

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