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Financial News: Indonesian Inflation Eases To 2.84%

Indonesian Inflation Eases To 2.84%

06/03/2024 - 04:03:00 (RTTNews)

(RTTNews) - Indonesia's consumer price inflation eased more-than-expected in May amid a slowdown in food costs, data from the statistics bureau showed on Monday.

The consumer price index climbed 2.84 percent year-on-year in May, slower than the 3.0 percent increase in April. The expected rate was 2.94 percent.

Further, the inflation rate has remained within the central bank's target range of 1.5-3.5 percent.

Meanwhile, core inflation rose to an eight-month high of 1.93 percent in May from 1.82 percent a month ago. Economists had forecast a growth rate of 1.88 percent.

The annual price growth in food items softened to 6.18 percent from 7.04 percent.

Health costs were 2.06 percent higher compared to last year, and those for clothing and footwear increased by 1.10 percent.

On a monthly basis, consumer prices dropped marginally by 0.03 percent, reversing a 0.25 percent rise in April. Economists were looking for a mild rise of 0.05 percent.

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