Indonesia's inflation rate cools in May, comes in below forecast

A woman carries shopping bags after shopping for food at a market in Jakarta, Indonesia, Sunday, Aug 14, 2022. (AP Photo/Achmad Ibrahim)

JAKARTA: Indonesia's annual inflation rate eased more than expected in May, data from the statistics bureau showed on Monday, remaining within the central bank's 1.5% to 3.5% target range.

The May headline inflation rate was 2.84%, down from 3% in April. A Reuters poll of analysts had expected an inflation rate of 2.94% in May.