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IMF explains why food prices remain high as inflation eases
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IMF explains why food prices remain high as inflation eases
He said inflation currently stands at about 6.9 percent, down sharply from 14.2 percent in 2023, describing the decline as significant progress even though prices remain high in local markets. According to the Fund, inflation measures the speed at which prices rise, not whether prices actually come down. He acknowledged that food remains the main driver of inflationary pressure in The Gambia, largely because the country relies heavily on imports…
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