Indonesia's inflation edges up in Oct, still below BI target

[JAKARTA] Indonesia's annual inflation rate picked up further in October, but remained below the central bank's target range due to weak demand amid the novel coronavirus outbreak, roughly in line with analysts'expectations.

The October annual inflation rate edged up to 1.44 per cent from September's 1.42 per cent, a second straight month of slight acceleration. A Reuters poll had forecast 1.45 per cent.

Bank Indonesia's target range for 2020 is within a range of 2 to 4 per cent.

Meanwhile, the core inflation rate, which excludes volatile food and government-controlled prices, cooled more than expected to 1.74 per cent in October, from 1.86 per cent in September. The poll had expected 1.82 per cent.

REUTERS