Government Trims Inflation Targets for 2017 and 2018

Inflation forecasts for this year and 2018 were trimmed because of the removal of tariffs on rice imports. It is now expected to average 3.4% this year, slower than the initial 3.5% estimate. The 2018 forecast was likewise scaled down to three percent from 3.1%. February inflation had hit a two-year-high of 3.3%, bringing the year-to-date average to three percent, at the mid point of the central bank’s 2-4% target…

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