Miss old prices? Inflation projected to fall back to 5.5% in 2027
The government expects inflation to fall back to 5.5%, a number viewed with a rose-tint in times of raging inflation.
Just days before the budget for the upcoming fiscal year, the country's general inflation surged to a seven-month peak of 9.89%.
May's general inflation rate was the highest since October last year at 9.93%. Inflation was 9.74% in April. Since March 2023, the general inflation rate has remained above 9%.
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But in the Medium Term Macroeconomic Framework (2024-25 to 2026-27), placed before the Parliament today (6 June), the government presented a much rosier view of the future.
It said the Consumer Price Index (CPI) inflation would hover around 6.5% in 2025, dropping to 6% the next year, before reaching the comfortable quarter of 5.50%.
The period of 2025-2027 would also see a fall in public investment and unchanged remittance growth, according to the document.
