#National News

‘Current inflationary trends are mainly due to the erratic energy, food prices’

Nov 25, 2022, 11:03 AM | Article By: Ali Jaw

President Adama Barrow has said during the launch of the National Employment Policy and Action Pan 2022-2026 on Friday that unprecedented rate of inflation are mainly due to energy costs and prices of food.

“These are difficult times for the global community. Our recovery from the shock of the Covid-19 pandemic is not only slow, but also further frustrated by the on-going Russia-Ukraine war. The additional suffering arising from the war is simply unbearable,” he said at Kairaba Beach Hotel.

“It has disrupted markets and supply chains, and it continues to raise the prices of basic commodities to unprecedented levels.”

“With much discomfort, this has triggered a serious global food crisis, particularly in developing countries of Africa. The current inflationary trends are mainly due to the erratic energy and food prices.”

He added that concurrently, the impact of climate change is intensifying, hence the unprecedented floods experienced in the country this year affected more than fifty thousand people.

“The global crises, with their devastating impact, have hit The Gambia very hard, thus increasing food insecurity, eroding household incomes, and undermining employment and economic growth,” he noted.