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Financial News: Indonesia Inflation Slows In October

Indonesia Inflation Slows In October

11/01/2022 - 04:53:00 (RTTNews)

(RTTNews) - Indonesia's consumer prices rose at a softer rate in October, data from statistics bureau showed on Tuesday.

The consumer price inflation eased to 5.71 percent in October from 5.95 percent in the previous month. Economists had expected inflation to rise to 5.99 percent.

Headline inflation remained above the Bank Indonesia's target of 3, plus or minus one, percent. The central bank has forecast the rate to remain above its target for the rest of the year.

Prices for food, beverages and tobacco grew 6.76 percent and those of clothing and footwear increased 1.50 percent.

Prices for housing, water, electricity and household fuels rose 3.30 percent. Prices for furnishings, household equipment, and routine household maintenance and health gained by 5.08 percent and 2.70 percent, respectively.

Core inflation was 3.31 percent in October versus 3.21 percent in the previous month. Economists had forecast a rate of 3.40 percent.

On a monthly basis, consumer prices gained 0.11 percent in October. Economists had forecast a growth of 0.16 percent.

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