MAJURO, June 12 (Asia Pulse) – The cost of living rose by more
than 10 per cent in the Marshall Islands from January to March
this year. This was more than double the inflation rate for all of
fiscal year 2007, according to a report issued by the
government’s Economic Policy, Planning and Statistics Office
(EPPSO), reports Marianas Variety.
The one-quarter January-March inflation rate was 10.19 per
cent compared to an inflation rate of just 4.43 per cent for
all of FY 2007, the report said.
Driving the skyrocketing costs in Majuro were food and
utility price rises, the EPPSO report said.
EPPSO staff found major increases in the price of flour,
rice, eggs and many other (food) items, said the report, which
is issued quarterly. Utilities and major appliances jumped 30
per cent during the quarter.
The EPPSO report shows that inflation had been relatively
low until 2008, with an average of about only 1.5 per cent per
quarter price increases during FY 2006 and FY 2007.
Ebeye, the country’s second major urban centre. with a
population of about 12,000, saw inflation jump by 6.7 per cent
during this p