Inflation this year expected to be at 5%-6%

10 years, 3 months ago - May 31, 2011
The Bank of Mauritius expects that the inflation rate will stay between 5% and 6% from now to the end of the year

Average annual inflation in Mauritius will be contained at 5%-6% this year if policies aimed at curbing price pressures are coordinated, the central bank was quoted as saying yesterday. 

“The Bank of Mauritius expects that the inflation rate will stay between 5% and 6% from now to the end of the year,” central bank Governor Rundheersing Bheenick is reported to have said.  “This objective will be achieved if the bank and Treasury continue to coordinate their policies.” 

A central bank source confirmed Mr Bheenick was referring to the annual average inflation rate which quickened to 4.4% in April from 4% a month earlier. The year-onyear rate fell in April for the first time in seven months, to 7%. 

The Bank of Mauritius raised its benchmark lending rate by 50 basis points in March to curb a faster than expected rise in inflation and said further monetary policy action would be needed in the coming months.

Text by NewsNow.mu

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