Indonesia's inflation soars more than expected, driven by food prices - highest seen since 2017

A seller displays onions, shallots and garlic at Mandonga Market in Kendari, Southeast Sulawesi, on June 27, 2022. Amid low supplies, the prices of those commodities have risen fast. - Jakarta Post/ANN

JAKARTA, July 3 (Jakarta Post/ANN): Domestic inflation has risen faster than expected by either the government or Bank Indonesia (BI), setting a new record since June 2017 as food and transportation prices soar.

Statistics Indonesia (BPS) announced on Friday that the consumer price index (CPI) increased by 4.35 percent year-on-year (yoy) in June, marking a significant acceleration from the 3.55 percent rate reported for the preceding month.