Indonesia's May inflation at highest in 5 months

Indonesia's May inflation at highest in 5 months

Traditional market in Jakarta amid the coronavirus disease (COVID-19) outbreak
FILE PHOTO: A vendor selling seafood prepares fish as she serves her customers, amid the spread of the coronavirus disease (COVID-19) outbreak, at a traditional market in Jakarta, Indonesia, March 1, 2021. REUTERS/Willy Kurniawan

JAKARTA: Indonesia's annual inflation accelerated to 1.68 per cent in May, its highest since December and roughly in line with expectations, as consumer spending rose during the Eid al-Fitr festivities, statistics bureau data showed on Wednesday (Jun 2).

However, the May inflation remained below the central bank's target range of 2 per cent to 4 per cent. April inflation was 1.42 per cent and a Reuters poll had expected a May rate of 1.67 per cent.

Annual core inflation, which excludes volatile food and government-controlled prices, also quickened for the first time since March 2020 to 1.37 per cent in May, the highest in three months. April's rate was 1.18 per cent and the poll had forecast 1.28 per cent.

Source: Reuters