ZCZC
BCN-14
INDONESIA-ECONOMY-INFLATION
Indonesia’s annual inflation edges up 3.18 pct in July
JAKARTA, Aug. 3, 2018 (BSS/Xinhua) – Indonesia’s annualized consumer price
index ratcheted up slightly in July as prices of basic commodities shot
higher.
The national statistics bureau announced on Wednesday that inflation crept
up 3.18 percent in Jully year-over-year from 3.12 percent in June.
Month inflation edged off 0.28 percent in July from 0.59 percent in the
preceding month, head of the bureau Kecuk Suhariyanto said.
The annual core inflation rate, stripping off government-controlled and
volatile food prices, drifted up 2.87 percent in July from 2.72 percent in
June, he said.
Although Indonesia had logged moderate annualized inflation in recent
months, the rate setters in the country’s central bank had applied tightening
stance since May 17 by creeping up its benchmark interest rate 100 basis
points to 5.25 percent to guard rupiah before taking a pause last month.
Accordingly, the lender reshaped its estimate on this year’s inflation to
3.5 percent from its preceding projection of 2.5 to 4.5 percent.
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/1002