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Inflation dangers 'threaten Asia'
Rising food prices could lead to spiralling inflation in Asia
The threat of high inflation remains a major worry for Asia, and could undo the progress made in the past 20 years, the Asian Development Bank (ADB) says.
ADB managing director Rajat M Nag said inflation in 2008 would exceed the 5.1% annual figure predicted in April.
Rising fuel and food prices were the chief dangers behind inflation that affected Asia "good growth story".
Rising inflation could also hit investment and corporate earnings, and destabilise governments in the region.
In Asia, roughly about a billion people are vulnerable to the food and fuel price increases
Rajat M Nag, Asian Development Bank
On Friday India said its inflation had risen at its fastest rate in seven years. And earlier in June South Korea said its inflation had hit a seven-year high as a result of rising energy and food costs.
In Vietnam inflation is more than 25% and the government has said the issue is the biggest challenge it faces.
Singapore, Thailand, and the Philippines and Indonesia are facing inflation rates of between 7.5% and 11%.
http://news.bbc.co.uk/2/hi/business/7455296.stm
Rising food prices could lead to spiralling inflation in Asia
The threat of high inflation remains a major worry for Asia, and could undo the progress made in the past 20 years, the Asian Development Bank (ADB) says.
ADB managing director Rajat M Nag said inflation in 2008 would exceed the 5.1% annual figure predicted in April.
Rising fuel and food prices were the chief dangers behind inflation that affected Asia "good growth story".
Rising inflation could also hit investment and corporate earnings, and destabilise governments in the region.
In Asia, roughly about a billion people are vulnerable to the food and fuel price increases
Rajat M Nag, Asian Development Bank
On Friday India said its inflation had risen at its fastest rate in seven years. And earlier in June South Korea said its inflation had hit a seven-year high as a result of rising energy and food costs.
In Vietnam inflation is more than 25% and the government has said the issue is the biggest challenge it faces.
Singapore, Thailand, and the Philippines and Indonesia are facing inflation rates of between 7.5% and 11%.
http://news.bbc.co.uk/2/hi/business/7455296.stm
