ZCZC
BCN-21
INDONESIA-CONSUMER-PRICE
Indonesia’s annualized inflation in June drags further down
JAKARTA, July 2, 2018 (BSS/Xinhua) – The annualized consumer price index
in June sagged as demands and prices of foods kept logging modest growth
during the fasting month.
The national statistics bureau announced on Monday that annual inflation
in June accelerated at a slower pace of 3.12 percent compared with 3.23
percent in the preceding month.
“The combination of the prices hikes was pared by the fall of prices of
several commodities. Inflation resulted from foods-prices hike is fully
controlled before the Eid al-Fitr this year,” head of the bureau Kecuk
Suhariyanto said, referring to the festivity which fell on June 15 and 16.
For month, inflation shot higher to 0.59 percent in June from a 0.21
percent figure in May, Suhariyanto noted.
The annual core inflation rate, scrapping government-controlled and
volatile food prices, ratcheted down to 2.72 percent in June from 2.75
percent in the previous month, he cited.
The Indonesian central bank has taken tightening stance since May 17 by
creeping up its benchmark interest rate 100 basis points to 5.25 percent to
guard rupiah as the U.S. Fed. Reserve steps up its pace of normalization amid
uncertainty in the Europe and global trade wars.
The lender sets inflation to touch 2.5 to 4.5 percent this year while the
government has brought down economic growth target to the range of 5.17 to
5.4 percent from previous estimate of 5.4 percent following the tightening
policies.
BSS/XINHUA/HR/1455