Indonesia’s June Annual Inflation Rate Slows to 3.12%
Indonesia’s annual inflation rate slowed less than expected in June from a year ago and stayed within Bank Indonesia’s target range, the Central Statistics Agency said on Monday (02/07).
June’s annual inflation rate came in at 3.12 percent, compared with May’s 3.23 percent. Analysts surveyed by Reuters had expected a rate of 2.88 percent.
Suhariyanto, the head of the statistics bureau, said the consumer price index rose 0.59 percent on a monthly basis in June, due to rising demand during the Muslim fasting month.
However, the annual rate fell because of the base effect of high prices during last year’s Ramadan, he said.
The annual core inflation rate, which excludes government-controlled and volatile food, eased slightly to 2.72 percent in June, from 2.75 percent in May. Bank Indonesia targets inflation at 2.5-4.5 percent this year.