Inflation to reach 11.2 percent this year: Finance Minister

Antara , Jakarta | Wed, 05/21/2008 7:57 PM | Headlines

Finance Minister Sri Mulyani Indrawati on Wednesday said inflation would reach 11.2 percent this year due to the planned fuel price increase.

"We estimate inflation will reach 11.2 percent this year," she said.

In the 2008 state budget, this year's inflation was expected to only hit 6.5 percent.

World oil prices have been skyrocketing over the past year and hit a record high at more than US$130 per barrel on Wednesday.

Worried about the negative impact of world oil prices rise on the state budget, the government announced its plan to raise subsidized fuel prices. (***)

Comments (0) | Post comment

A | A | A |