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Indonesia's March inflation at 2-year high on food prices

Indonesia's March inflation at 2-year high on food prices

FILE PHOTO: A vendor wearing a protective mask serves her customer at a traditional market, as the coronavirus disease (COVID-19) outbreak continues in Jakarta, Indonesia, October 1, 2020. REUTERS/Willy Kurniawan

JAKARTA: Indonesia's consumer prices index rose 2.64 per cent on a yearly basis in March, official data showed on Friday (Apr 1), the highest in two years and faster than the 2.56 per cent forecast in a Reuters poll.

Margo Yuwono, Indonesia's statistics bureau chief, said the biggest driver of inflation in March was the rising price of chili, cooking oil, eggs, household gaseous fuel and gold jewellery. The central bank has a target to keep inflation within a range of 2 per cent to 4 per cent,

The core inflation rate, which strips out volatile food and government-controlled prices, also rose to 2.37 per cent, a touch higher than the 2.33 per cent expected in the poll.

Source: Reuters

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