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Indonesia inflation inches up in August, holds below central bank target

Indonesia inflation inches up in August, holds below central bank target

FILE PHOTO: People wearing protective face masks shopping in Tanah Abang textile market ahead of Eid al-Fitr festival amid the coronavirus disease (COVID-19) outbreak in Jakarta, Indonesia, May 3, 2021. REUTERS/Ajeng Dinar Ulfiana

JAKARTA : Indonesia's annual inflation rate edged up in August to 1.59per cent, the highest in three months, still holding below the central bank's target range, data from the country's statistics bureau showed on Wednesday.

A Reuters poll had expected an August rate of 1.60per cent. Indonesia's inflation rate has been below the central bank's 2per cent to 4per cent target range since mid-2020. Inflation in July was 1.52per cent.

The August annual core inflation rate, which excludes government-controlled and volatile prices, eased to 1.31per cent, roughly in line with expectations in the poll, from 1.40per cent in July.

(Reporting by Gayatri Suroyo and Fransiska Nangoy; Editing by Tom Hogue)

Source: Reuters

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