Rise in Algeria's Annual Inflation

Algeria's annual inflation went up to 2.3% in November, from 2.2% the previous month, after a rise in prices for services and manufactured products, official figures showed on Thursday. OPEC member Algeria, which relies heavily on imports of goods, including foodstuffs, has been trying to reduce spending on purchases from abroad after a fall in oil and gas export revenues.

Prices of manufactured products rose 5.3%, while the cost of services went up 1.7%, according to figures released by the National Statistics Bureau. Algeria's full-year inflation reached 2% in 2019.