Inflation falls close to target

Bloomberg

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Consumer prices will rise 7.64 percent over the next 12 months, compared with the 8.45 percent forecast in the previous survey, the Bank said. The Central Bank is aiming to slow inflation to 7.5 percent this year and 6.5 percent in 2010 after missing its goals for the previous three years.

Inflation is expected to slow to 6.74 percent in 24 months, compared with a previous forecast of 7.26 percent, according to the survey, the Bank said. The economy will expand 1.1 percent this year, compared with the previous estimate of 1.2 percent, it added.