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SOUTH-EAST ASIAN INFLATION
Aug 19th 1997
SOUTH-EAST ASIAN INFLATION During the past two years several South-East
Asian economies have made progress in fighting inflation. After the first
quarter of 1996, Indonesian consumer prices were 8.9% higher than a year
earlier; by the second quarter of 1997 inflation was down to 5.1%. More
dramatically, the Philippines has more than halved its inflation rate since
the beginning of 1996. In some countries, this progress is threatened by the
region's financial turbulence and weakening currencies. Thailand, in
particular, will see higher inflation as dramatic depreciation of the baht
boosts the price of imported goods. In its recent deal with the IMF, Thailand
promised to keep inflation at 8-9% or less in 1997.
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