Indonesia’s August inflation picks up

4 September, 2018 12:00 AM printer

JAKARTA: Indonesia's annual inflation rate picked up slightly in August but was below market expectation and remained within the central bank's target range, data from the statistics bureau showed on Monday.

Consumer prices rose 3.20 per cent in August from a year earlier, compared with July's annual inflation rate of 3.18 per cent. Analysts surveyed by Reuters had expected a rate of 3.33 per cent, report agencies.

Bank Indonesia (BI) targets inflation rate in the range of 2.5 per cent to 4.5 per cent this year.

The consumer price index was down 0.05 per cent on a monthly basis due to a drop in food prices, such as that of chicken and chillies, Suhariyanto, head of statistics bureau, told a news briefing.