Press

Consumer prices rose 1.3 percent in March from a year ago, less than the 1.5 percent expected by analysts in a Reuters poll, data showed. Underlying inflation, which excludes the effect of interest rate changes in mortgages, came in at 1.5 percent year-on-year, less that the 1.7 percent forecast. Both measures were unchanged month-on-month. The central bank has said the economy is doing well, but the risk of a setback had increased due to political uncertainty abroad, and rates would more likely be cut than raised in the near term. In February, underlying annual inflation hit the central bank's 2 percent target for the first time since December 2010. But the central bank does not expect inflation to stabilise around 2 percent until late in 2018, and has said it does not plan to raise rates before the start of next year. (Reuters)