Inflation rate of Indonesia hastens in February to 4.42 percent

Indonesia's annual inflation rate in February slightly rose to 4.42 percent from a year earlier compared with January as food prices pick up.

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The national statistic bureau announced on Tuesday in Jakarta that February’s annual rate was higher than the 4.14 percent recorded last month.

inflation
inflation
The consumer price index fell 0.09 percent on monthly basis, slowing from 0.51 percent in January, as food prices and electricity tariff dipped, Suryamin, head of the bureau said. However, the pace of price declines was deeper last year, the annual rate still increased.

Core inflation, excluding volatile components and prices determined by the government, stood at the same level as January’s at 3.62 percent.

The subdued inflation, coupled with Bank Indonesia’s inflation estimation at 3-5 percent range, may allow the central bank to continue easing its policy rate at its governor board meeting on March 16 and 17.

Last month, the central bank slashed its interest rate by 0.25 percent to 7.0 percent for a second time this year as its strives to prop up GDP growth which picked up at the final quarter of last year.

Xinhua, March 1, 2016

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