Indonesia records inflation at 3.55 per cent in May

JAKARTA, (Xinhua): Indonesia recorded the inflation in May at 3.55 per cent year-on-year due to the increase in airplane fares and gasoline prices, the Statistics Indonesia (BPS) said on Thursday (June 3).

This is compared to a 3.47-per cent rate in April.

Head of BPS Margo Yuwono told a press conference that the inflation rose "as government allows airlines to adjust production costs and recently there was a policy of increasing the price of Pertamax fuel."

At a meeting with the House of Representatives on Wednesday, Bank Indonesia Governor Perry Warjiyo said the bank expects inflation in the following months to exceed the maximum target of 4 per cent over energy and food price hikes.

The Indonesian central bank is optimistic that inflation will return to the control target range of 2 to 4 per cent in 2023.

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Indonesia , inflation , May


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