ZCZC
BCN-25
INDONESIA-ECONOMY-INFLATION
Indonesia’s inflation edges off in 2018
JAKARTA, Jan. 2, 2019 (BSS/Xinhua) – Indonesian annual inflation
accelerated at a slower pace in December, within the target range of the
central bank in November.
The national statistics bureau announced on Wednesday that consumer price
index touched a 3.13 percent in December year-over-year, compared with a 3.23
percent annual inflation in November.
The price hike of non-subsidized fuel contributed the most to the
acceleration of prices last year, head of the bureau Kecuk Suhariyanto said.
“The commodity contributed, the highest, to the price hike was gasoline
fuel which is not subsidized,” he added.
The Indonesian government rose prices of several types of non-subsidized
fuel on July 1, 2018.
The annualized core inflation, stripping off government-controlled and
volatile food prices, ticked up to 3.07 percent in December from 3.03 percent
in November, the official said.
Indonesia’s central bank, Bank Indonesia, has extended tightening cycle by
edging up its interest rate of 175 basis points to 6 percent since May 17 to
shore up rupiah value against the greenback.
The central bank targeted inflation at the range of 2.5 to 4.5 percent last
year.
The government edged lower economic growth target in 2018 to the range of
5.17 to 5.4 percent from the initial estimate of 5.4 percent following the
tightening policies.
BSS/XINHUA/HR/1400