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Thursday May 8, 11:26 AM
Indonesia's Inflation Rate May Exceed 9PCT: CENTRAL BANK JAKARTA, May 8 Asia Pulse - Bank Indonesia has predicted the country's inflation could overshoot the previously set target of 6.5% to more than 9% - as a result of an increase in prices for oil fuel.
The government has yet to announce the exact figure for the increase, but officials have indicated the increase would be 26%. It looked as if it was heading to more than 9%, therefore, revisions should be made, Senior Deputy Governor of Bank Indonesia Miranda S. Goeltom said. Finance Minister Sri Mulyani Indrawati already indicated revisions earlier of a number of economic targets, including inflation to 8.5%-9.5% The central bank raised its benchmark interest rate from 8% to 8.25% on Tuesday in a bid to rein in inflation. (ANTARA)
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