JAKARTA : Indonesia's annual inflation picked up slightly in February, but its core inflation decelerated more than expected, data from its statistics bureau showed on Wednesday.The Consumer Price Index rose 5.47 per cent on a yearly basis in February, roughly in line with the median forecast in a Reuters
JAKARTA : Indonesia's annual inflation picked up slightly in February, but its core inflation decelerated more than expected, data from its statistics bureau showed on Wednesday.
Core inflation unexpectedly slowed to 3.09 per cent, compared with analysts' prediction that it would stay around January's level of 3.27 per cent. Indonesia's central bank has raised interest rates by 225 basis points since August to guide inflation back to within its target range of 2 per cent to 4 per cent.
Bank Permata's economist Josua Pardede said the data showed core inflation was"well anchored". Combined with stability in the rupiah exchange rate, this should mean BI could keep interest rates unchanged, he said, though he warned of a potential seasonal rise in prices ahead of the Muslim fasting period that starts later this month.
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