Seychelles deflation eases slightly in Jan
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February 9, 2010, 8:00 am

VICTORIA (Reuters) - Consumer prices in Seychelles fell 2.2 percent in January from a year earlier, slightly less than a 2.5 percent drop in the previous month, official data showed on Tuesday. On a month-on-month basis, prices increased by 1.4 percent, their second straight months of gains. Housing, water, electricity and gas prices jumped by 15.2 percent against December's costs due to recently increased tariffs. Transport costs fell by 8.6 percent in January against the previous month following a revision of import duties levied on motor vehicles. The CPI stood at 183.6 in January compared to 187.7 in a year earlier, the National Bureau of Statistics said. Inflation peaked at 63.3 percent in December 2008 following the removal of exchange rate regulations and record high oil prices. The Indian Ocean archipelago unveiled sweeping fiscal and monetary reforms in November 2008 as the heavily indebted economy teetered on the edge of collapse with an acute balance of payments crisis.

 
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