Indonesia inflation cools to 2.28% in September, close to forecast

JAKARTA (Reuters): Indonesia's annual inflation rate slowed to 2.28% in September, roughly in line with market forecast, due to a high base effect, official data showed on Monday, near the lower end of the central bank's target range.

A Reuters poll of economists had expected a rate of 2.20% following August's inflation rate of 3.27%.

The September core inflation rate also eased to 2.00% from 2.18% a month before, compared with the poll's prediction of 2.08%.

Inflation in South-East Asia's largest economy peaked near 6% in September of 2022 after the government raised subsidised fuel prices.

To control price pressures, the central bank raised interest rates by a total of 225 basis points between August and January.

Bank Indonesia targets inflation within a range of 2% to 4% this year.

The target will be lowered to 1.5% to 3.5% in 2024. (Reporting by Stefanno Sulaiman, Gayatri Suroyo and Fransiska Nangoy; Editing by Martin Petty)

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Indonesia , Inflation , Cooling Down


Next In Aseanplus News

HK, Thailand commence cross-border QR payment linkage
Xi takes flurry of small steps to open China after Biden thaw
Concerns with implementation of digital id unfounded, says PM
Manufacturing sector showing improvement, business confidence at seven-month high - S&P
N. Korea's Kim calls for military readiness against any 'provocation'
Asian markets struggle even as US data fuels rate cut talk
Thailand poised to celebrate Unesco’s listing of Songkran
Real median income in Singapore falls 2.3% in 2023 on high inflation
Ringgit opens lower against US$ ahead of Fed chair remarks
Japan says 'concerned' US continues to fly Ospreys despite grounding request

Others Also Read