Indonesia: Inflation stable in March at Bank Indonesia’s target
Consumer prices increased 0.10% month-on-month in March, down from February’s 0.28% increase. March’s uptick was driven by higher prices for food, drinks and tobacco, and household equipment and maintenance.
Inflation was stable at 3.0% in March, in line with Bank Indonesia’s target range of 3.0% plus or minus 1.0 percentage point. Inflation is expected to remain on target going forward, which should allow Bank Indonesia to continue to adopt a dovish stance in a bid to support the economy in the face of the coronavirus-induced slowdown.