Financial News: Indonesia Inflation Slows To 5.28%, Lowest In 5

Indonesia Inflation Slows To 5.28%, Lowest In 5 Months

02/01/2023 - 05:21:00 (RTTNews)

(RTTNews) - Indonesia's inflation rate eased to the lowest in five months in January after accelerating in the previous month, and remained above the Bank Indonesia's target, data from the statistics bureau in Jakarta showed on Wednesday. Separate data showed that tourist arrivals to the country continued its triple-digit growth in December.

The consumer price index, or CPI, rose 5.28 percent year-on-year in January after a 5.51 percent increase in December, the statistical bureau said. Economists had expected the annual inflation rate to ease to 5.40 percent.

The latest inflation was the lowest since August, when prices rose 4.69 percent.

However, it was still above <a href=https://www.rttnews.com/3338020/bank-indonesia-raises-key-rate-to-5-75-to-tame-inflation.aspx target=_blank >the central bank</a>'s inflation target of 2-4 percent.

Transport charges grew the most by 13.91 percent in January compared to last year, but slower than December's 15.26 percent surge.

<b>Read more</b>: <a href=https://www.rttnews.com/3340702/indonesia-manufacturing-sector-accelerates-in-january-s-p-global.aspx target=_blank >Indonesia Manufacturing Sector Accelerates In January</a>

Prices for food, beverages and tobacco grew 5.82 percent annually in January and those for housing, water, electricity and household fuels gained 3.62 percent.

The core inflation was 3.27 percent yearly in January. Economists had forecast 3.33 percent.

On a month-on-month basis, consumer prices increased 0.34 percent in January versus an expected rise of 0.47 percent.

Compared to the previous month, the core CPI rose 0.33 percent at the beginning of the year.

Separate official data showed that the number of foreign tourist visits to the country jumped 447.08 percent annually in December, totaling 8.95 million visits. Compared to November, the increase was 36.19 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Taiwan Export Orders Continue To Fall In February (29 min(s), 57 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (02 hr(s), 26 min(s), 57 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (03 hr(s), 53 min(s), 57 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (04 hr(s), 33 min(s), 57 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (04 hr(s), 52 min(s), 57 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»

China Loan Prime Rate Due On Monday (21 min(s), 03 sec(s) ago)
(RTTNews) - The People's Bank of China will announce its latest loan prime rate numbers, highl ...Full Story»

U.S. Consumer Sentiment Unexpectedly Drops In March, Inflation Expectations Dip (02 min(s), 03 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. fell for the first time in four months in March, accord ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged At 7.50% (56 min(s), 03 sec(s) ago)
(RTTNews) - Russia's central bank decided to keep its key interest rate unchanged for the four ...Full Story»