December 28, 2017 / 1:07 PM / 6 months ago

Argentina raises 2018 inflation target to 15 pct -Treasury Minister

BUENOS AIRES, Dec 28 (Reuters) - Argentina changed its inflation target for 2018 to 15 percent, up from the central bank’s previous goal for 8-12 percent, Treasury Minister Nicolas Dujovne said on Thursday, bringing the goal closer to market expectations of 16.6 percent next year.

The government will postpone its goal of lowering inflation to 5 percent by one year to 2020, Dujovne said. Consumer prices rose 21 percent in the first 11 months of 2017, above the central bank target for 12-17 percent inflation.

The bank has hiked interest rates to 28.75 percent this year to fight inflation. (Reporting by Jorge Otaola and Hugh Bronstein; Writing by Luc Cohen Editing by Chizu Nomiyama)

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