2015 sees positive signs of growth
The 2015 inflation rate is expected to stand at 3 percent, reflecting plunging energy prices and generally decreasing commodity costs, reported the National Financial Supervisory Commission (NFSC).
Inflation rate reductions have been recorded recent years, particularly from September to December, 2014 when it fell by 2.6 percent to a stable 3 percent.
The growth rate has maintained its momentum since the second quarter of 2014, leading the agency to expect a 6.2 percent growth in the economy this year.
The consumer price index has been in a downward spiral and is projected to hit 3 percent by the end of the year, presenting an opportunity for the Government to adjust prices with minor market impact, according to the NFSC
Regarding the drop in energy costs, the NFSC proposed a transportation price cut to bolster domestic production and consumption. The Government must also intensify its product quality monitoring and consider lowering the interest rate to improve the competitiveness of local enterprises.
The growth rate has maintained its momentum since the second quarter of 2014, leading the agency to expect a 6.2 percent growth in the economy this year.
The consumer price index has been in a downward spiral and is projected to hit 3 percent by the end of the year, presenting an opportunity for the Government to adjust prices with minor market impact, according to the NFSC
Regarding the drop in energy costs, the NFSC proposed a transportation price cut to bolster domestic production and consumption. The Government must also intensify its product quality monitoring and consider lowering the interest rate to improve the competitiveness of local enterprises.