Indonesia’s inflation brought under control faster than expected
Indonesia's annual inflation rate eased to 4% in May, matching the upper end of the central bank's (BI) target range earlier than expected, data from the country's statistics bureau has showed.
A man transports vegetables on his motorbike in Jakarta. (Photo: AFP)
Jakarta (VNA) - Indonesia'sannual inflation rate eased to 4% in May, matching t꧙he upper e🍬nd of the centralbank's (BI) target range earlier than expected, data from the country's statistics bureauhas showed.
Inflation in Southeast Asia'slargest economy had been above the BI’s 2% to 4% target range since June 2022due to pressures from rising global food and energy prices. Peaking nearly 6% in September,inflation has since eased gradually after the central bank hiked interest ratesby a total of 225 basis points. Earlier, a poll of analysts hadexpected May inflation at 4.22%. In April, the rate was 4.33%. The core inflation rate, whichstrips out government-controlled and volatile food prices, eased to 2.66% inMay from 2.83% a month before. The poll had expected 2.80%. At BI's last policy meeting, ithad expected headline inflation to ease to within its target in the thirdquarter, with core inflation seen staying within the same target bandthroughout the year.
Pudji Ismartini, deputy head of thestatistics bureau, attributed slowing inflation to declining airfares after theEid al-Fitr festivities.
DBS Bank economist Radhika Rao acknowledged that Indonesia'sinflation continues to surprise on the downside as seasonal f🌞estive effectsfade and administrative measures heꦓlp to calm food cost./.
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A man transports vegetables on his motorbike in Jakarta. (Photo: AFP) 
