Dear Editor,
Refer to statisticsguyana.gov.gy: Data table; Merchandise Imports Cost, Insurance and Freight (CIF) value by category. Let us examine the columns Food for Final Consumption and Food for Immediate Use.
Approximate annual food import CIF (US $):
2017 – $224M
2018 – $247M
2019 – $197M
2020 – $231M
2021 – $314M
2022 – $348M
2023 – $406M
Population estimate. Reference: statisticsguyana.gov.gy
2015 – 744,945
2016 – 743,458
2017 – 741,365
2018 – 744,962
2019 – 743,699
Year to Year Percentage change in imported food CIF:
2018: +10%
2019: -20%
2020: +17%
2021: +36%
2022: +11%
2023: +17%
Comparing 2019 (pre-pandemic) to 2023, the annual imported food CIF has doubled. These additional costs will be ‘tagged’ on to the consumer hence higher Consumer Price Index (CPI) and Inflation.
Sincerely,
Gary Sampson
