Ministry cuts 2015 inflation forecast to 0.6-1.3%

MONDAY, March 02, 2015

The Commerce Ministry has cut its inflation target for this year to 0.6-1.3 per cent, much lower than the previous projection of 1.8-2.5 per cent, after the drop in oil prices and sluggish economic growth.

The ministry reported that the Consumer Price Index for February fell 0.52 per cent year on year, declining for the second consecutive month. Monthonmonth inflation was only 0.12 per cent. The CPI for the JanuaryFebruary period was down 0.47 per cent from the first two months of 2014.

The Nation