Argentina raises 2018 inflation target to 15 percent: Treasury Minister

[January 16, 2018]  BUENOS AIRES (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.

Argentine Treasury Minister Nicolas Dujovne speaks during a news conference in Buenos Aires, Argentina October 31, 2017. Words above read "Economic development". REUTERS/Marcos Brindicci

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 CohenEditing by Chizu Nomiyama)

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