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Financial News: Indonesia Inflation Eases To 4.33%, Lowest In 11

Indonesia Inflation Eases To 4.33%, Lowest In 11 Months

05/02/2023 - 06:18:00 (RTTNews)

(RTTNews) - Indonesia's inflation rate slowed slightly more than expected in April to reach the lowest level in nearly a year, data from the statistics bureau showed on Tuesday.

The consumer price index climbed 4.33 percent year-on-year in April, slower than the 4.97 percent increase in March. Economists had expected inflation to slow to 4.39 percent.

The latest inflation was the lowest since May last year, when prices had risen 3.55 percent.

Nonetheless, inflation remained above the central bank's target of 2-4 percent.

Core inflation slowed to 2.83 percent in April from 2.94 percent a month ago. Economists had forecast a growth of 2.89 percent.

Transportation charges were 11.96 percent higher compared to last year, but slower than the 13.72 percent surge in March. Similarly, the annual price growth in food and non-alcoholic beverages moderated to 4.58 percent from 6.05 percent.

On a monthly basis, consumer prices rose 0.33 percent in April versus an expected increase of 0.37 percent. The core consumer price index edged up 0.25 percent.

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