Prices could fall on monthly basis in March, April: Bank Indonesia

[JAKARTA] Indonesia's central bank believes consumer prices may continue to fall on a monthly basis in March and April, following a 0.09 per cent in February, its governor said on Wednesday.

"March to April is harvest season and we're also reviewing energy prices, so there is a good chance (of monthly price falls)," Governor Agus Martowardojo told reporters, adding that the February annual inflation rate of 4.42 per cent was still in line with the central bank's target.

Bank Indonesia, who targets inflation at 3-5 per cent at end-2016, will review its monetary policy on March 16-17.

It has cut its benchmark rate twice this year, bringing the rate down to 7.00 per cent.

REUTERS