KONTAN.CO.ID - JAKARTA. Indonesia's annual inflation rate eased to 4% in May, matching the upper end of the central bank's target range earlier than expected, data from the statistics bureau showed on Monday. Inflation in Southeast Asia's largest economy had been above Bank Indonesia's (BI) 2% to 4% target range since June 2022 due to pressures from rising global food and energy prices. Peaking near 6% in September, inflation has since eased gradually after the central bank hiked interest rates by a total of 225 basis points.
Indonesia Inflation Returns to Central Bank Target Range in May
KONTAN.CO.ID - JAKARTA. Indonesia's annual inflation rate eased to 4% in May, matching the upper end of the central bank's target range earlier than expected, data from the statistics bureau showed on Monday. Inflation in Southeast Asia's largest economy had been above Bank Indonesia's (BI) 2% to 4% target range since June 2022 due to pressures from rising global food and energy prices. Peaking near 6% in September, inflation has since eased gradually after the central bank hiked interest rates by a total of 225 basis points.