Inflation Eases to 2.7% in December

07 Jan


The nationwide inflation rate fell below 3.0% in December due to slower price increases in housing, water, electricity, gas, fuels and transport.

The inflation rate stood at 2.7% in December, the slowest since August 2013, from 3.7% in November.

Given the manageable inflation outlook over the policy horizon, there may be greater scope in the months ahead for policymakers to focus on facilitating and maintaining supportive conditions for domestic demand.

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The December inflation rate brought the full-year average to 4.1%, well-within the 3.0% to 5.0% target range.

This marks the sixth consecutive year inflation fell within the target range.

For 2015 and 2016, the inflation outlook remains within the two to four percent goal for both years.

The risks to the outlook are also seen to be broadly balanced, with upside price pressures confined mainly to the impact of pending petitions for utility rate adjustments and tight power supply conditions as a result of rising energy demand.

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Posted by on January 7, 2015 in Local News, Stock Market


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