Jakarta, 02 Shafar 1438/02 November 2016 (MINA) – Indonesia’s annual inflation in October accelerated to the fastest pace in four months, the national statistic bureau (BPS) announced here on Tuesday.
Head of the BPS Suhariyanto revealed that consumer price index picked up 3.31 percent on yearly basis in October from 3.07 percent in September.
Still, annual core inflation, which strips out administered and volatile food prices eased to 3.04 percent in October, compared with 3.21 percent in the previous month, Xinhua quoted the official as telling a press conference at the bureau headquarters.
On month, inflation was up 0.14 percent in October as chilli prices picked up, he added.
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The ease of core inflation occurred as the consumers’ expectation to their revenue declined that they delay purchase of durable goods, according to the central bank consumer confidence index in September.
Bank Indonesia (BI), the central bank, has applied the longest loosening cycle since the global financial crisis amid low inflation to help revive subdued growth, easing yield of the country’s bonds.
Still, Rupiah gained around 6 percent against the U.S. dollar this year and it was traded at 13,036 per one U.S. dollar on Tuesday, according to the lender’s website.
BI expects a 3 to 5 percent inflation at year end amid estimate of steady moderate growth this year and next year with contraction in other nations. (T/R07/R01)
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