Central Bank of Liberia (CBL) Boss J. Mill Jones
Inflation Contained At Moderate Level In 2014, Says CBL
By Robert Dixon/LINA
MONROVIA, February 26 (LINA) - The Central Bank of Liberia (CBL) says the inflation rate in 2014 was contained at a moderate level despite the exchange rate pressure and low domestic food production caused by the Ebola outbreak.
According to the CBL annual report covering January 1 to December 31, 2014, the average headline inflation for 2014 stood at 9.9 percent from 7.6 percent average recorded in 2013.
The report noted that the aggressive intervention of the CBL during the second half of 2014 largely contributed to stabilizing the exchange rate pressure, which helped to limit the pass through effect of imported inflation to the domestic consumption basket.
The CBL report indicated that the core inflation, which excluded food and transportation from overall consumer price index on an annual average basis, reached 6.1 percent in December 2014 from 8.3 in September, 13.0 percent in June and 12.9 percent at the end of March in 2014.
The report said that on a yearly basis, underlying inflation increased to 9.9 percent in 2014 from 4.4 percent on average at the end of 2013.
The CBL report stressed that for 2015, the realization of single-digit inflation will depend mainly on the rapid containment of the Ebola virus.