Tunisia to raise interest rate as inflation hits new high

STORY: Tunisia to raise interest rate as inflation hits new high DATELINE: June 12, 2022 LENGTH: 0:01:29 LOCATION: Tunis CATEGORY: ECONOMY SHOTLIST: 1. various of a fast food store in Tunis 2. various of a grocery store in Tunis 3. various of a supermarket in Tunis STORYLINE: Tunisian Central Bank announced on Friday that due to the current high inflation rate in Tunisia, the Central Bank will raise the key interest rate to 7 percent. According to data released by the Central Bank, Tunisia's inflation rate reached 7.8 percent in May, the highest in recent years. The ballooning inflation was driven by the increasing food and energy prices in the international market caused by the conflict between Russia and Ukraine. Tunisia relies on imports for its main food and energy, which has led to a general rise in the domestic prices of various commodities. Tunisia currently has only 8 billion U.S. dollars in foreign exchange reserves. Local economic analysts say that if inflation keeps rising, the local politi