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Indonesia Dec inflation eases slightly more than expected

Tuesday, January 3, 2017 - 12:34

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Indonesia's annual inflation rate eased slightly more than expected in December, the statistics bureau said on Tuesday.

[JAKARTA] Indonesia's annual inflation rate eased slightly more than expected in December, the statistics bureau said on Tuesday.

The annual inflation rate was 3.02 per cent in December, data from the bureau showed, compared with 3.10 per cent expected in a Reuters poll and November's 3.58 per cent pace.

Consumer prices rose 0.42 per cent on a monthly basis, the lowest reading for December monthly inflation since 2010, the bureau said.

The core inflation rate, which strips out administered and volatile food prices, was virtually the same as November's, at 3.07 per cent. The poll had expected 3.11 per cent.

sentifi.com

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Indonesia's central bank targets annual inflation to be between 3 per cent and 5 per cent.

Bank Indonesia (BI) kept its benchmark rate unchanged at 4.75 per cent at its last meeting for 2016, shortly after the Federal Reserves raised US interest rates.

It cut its benchmark six times during January-October by a total of 150 basis points, trying to lift economic growth.

REUTERS

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