Indonesia’s inflation rose slightly in December and remained above the central bank’s target range for the 7th successive month, as household spending increased during the year-end holidays.
Jakarta (VNA) – Indonesia’s inflation roseslightly in December and remained above the central bank’s target range for the 7th successive month, as household spending increased during the year-endholidays.
According to data released bythe Statistics Indonesia on January 2, the headline annual inflationrate picked up to 5.51% in December, compared with 5.42% in November and the5.39% expected by analysts.
Bank Indonesia (BI)’s inflation target range is 2-4%. In its meetinglജast month, the central bank had predicted that December inflation would notexceed 5.4%.
BI raised the key policy rate by a total of 200 basis points inthe period from August to December to bring inflation to within its target rangethis year. December’s prices were proppedup by higher prices of fuel, airfares, house rents and foodstuff such as riceand eggs, Statistics Indonesia chief Margo Yuwono told a news conference. The annual core inflation rate,which excludes government-controlled prices and volatile food prices, inchedhigher to 3.36% last year./.
Indonesia's central bank raised its benchmark interest rate by 50 basis point on October 20 in a bid to curb rising inflation and reduce pressure on the local currency.
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Bekasi market in Indonesia (Photo: AFP) 
