Indonesia Dec inflation eases slightly more than expected

Jakarta, January 3
Indonesia’s annual inflation rate eased slightly more than expected in December, the statistics bureau said on Tuesday. The annual inflation rate was 3.02 percent in December, data from the bureau showed, compared with 3.10 percent expected in a Reuters poll and November’s 3.58 percent pace. Consumer prices rose 0.42 percent on a monthly basis, the lowest reading for December monthly inflation since 2010, the bureau said. The core inflation rate, which strips out administered and volatile food prices, was virtually the same as November’s, at 3.07 percent.
The poll had expected 3.11 percent. Indonesia’s central bank targets annual inflation to be between 3 percent and 5 percent. Bank Indonesia (BI) kept its benchmark rate unchanged at 4.75 percent at its last meeting for 2016, shortly after the Federal Reserves raised U.S. interest rates. It cut its benchmark six times during January-October by a total of 150 basis points, trying to lift economic growth. Below are details of inflation in December: y/y previous m/m previous CPI +3.02 +3.58 +0.42 +0.47 Core +3.07 +3.07 Reuters forecasts CPI y/y +3.10 CPI m/m +0.54 Core y/y +3.11 Bank Indonesia 2015 3-5 target.

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