On July 29, 2024, the National Statistics Office (ONS) reported a notable increase in Algeria's inflation, driven primarily by rising food prices. The consumer price index rose by 1.3% in June 2024 compared to the previous month, and by 4.4% compared to June 2023. This rise surpasses forecasts, largely due to fresh food price increases.
Fresh agricultural products saw significant price hikes, with red meat prices increasing by 5% and fruits and vegetables by 13.9% and 6.2%, respectively. While prices for white meat and eggs fell by 8.6% and 2.2%, these decreases did not offset the overall price increases.
In addition to seasonal factors, ongoing global market tensions and supply chain issues contributed to the inflation. Prices of non-food manufactured goods and services also increased slightly, with a 0.2% rise in manufactured goods and a 0.1% rise in services in June.
The Ministry of Agriculture and Rural Development's publication on July 25, 2024, highlighted significant price increases for common consumer goods. For instance, potatoes averaged 102 DA/kg, tomatoes 67 DA/kg, dry onions 39-51 DA/kg, garlic 355 DA/kg, carrots 71 DA/kg, turnips 147 DA/kg, zucchini 78 DA/kg, green beans 187 DA/kg, and lettuce 94 DA/kg. Among fruits, local apples averaged 435 DA/kg, dates 546 DA/kg, watermelons 86 DA/kg, melons 107 DA/kg, and bananas 333 DA/kg. In terms of animal products, local beef averaged 1746 DA/kg, chicken 364 DA/kg, and eggs 15 DA each.
These increases reflect growing financial strain on Algerian households, who are forced to cut back on consumption or other expenditures to cope with the rising prices.