World Economy

Indonesia Inflation Rate Slows

Indonesia Inflation Rate SlowsIndonesia Inflation Rate Slows

Indonesia’s inflation rate eased in April on lower prices of fuel and basic food commodities, the official Statistics Agency said Monday, Nasdaq reported. The agency said the year-over-year increase in the prices of goods and services at the consumer level was 3.60% in April compared with 4.45% in March. On a sequential basis, prices fell 0.45% in the latest month after rising 0.19% in March from February. Lower fuel prices led to a 1.60% sequential decline in transportation costs in April, the agency said. Rice prices fell 1.2% from a month earlier as some areas in the country started the harvest season. The agency said meat prices dropped 1.5% from March. The year-over-year core inflation rate, which excludes volatile and administrative price components, eased further to 3.41% in April from 3.50% in March. Indonesia’s central bank targets inflation at 3-5% this year. It has cut the benchmark rate three times this year, by 75 basis points in total, as inflation has stayed within its target range.