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1998 Prices Up 7.5%

Dec 30,1998
The Consumer Price Index went up 7.5 percent this year, the highest one-year jump since 1991. The rise was due to the foreign exchange crisis and high interest rates.
However, December prices were down 0.2 percent owing to a decline in service fees.
In 1991, the CPI shot up 9.3 percent and 4.5 percent in 1997, but the current economic turbulence led to the high numbers.
Industrial products increased the most at 11.1 percent while service fees marked a 5.3 percent rise this year.
The amount consumers had to pay for food also increased with seafood such as pollack and cuttlefish rising 10 percent. Although the price for potatoes increased, carrot and oil prices declined.


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