ASIAN ECONOMY: OVERVIEW, GROWTH and DEVELOPMENT - Inflation outlook: research.
Inflation projections for developing Asia are revised up a notch from 2.5percent to 2.6percent in both 2019 and 2020, reflecting higher oil prices and several domestic factors. Price fluctuations for Brent crude oil continue amid various concerns affecting both supply and demand. After breaching $60/barrel in January, the price of crude rose to a 5-month high of $74/barrel in late April, after the US ended waivers to its embargo on Iranian exports. In May, oil prices seesawed on news of higher US crude inventory, heightened geopolitical tensions in the Middle East, and worsening fears that trade friction would cause a global economic slowdown. Most recently, an unexpectedly large drop on US crude oil inventories and rising tensions between the US and Iran supported oil prices at the end of June at $64/barrel, still...
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