Indonesia: Inflation stays within the target range in June
July 1, 2019
Consumer prices increased 0.55% in June over the previous month, down from May’s 0.68% increase. June’s rise was driven by higher prices for food and clothing.
Inflation was stable at 3.3% in June, remaining within Bank Indonesia’s target range of 3.5% plus or minus 1.0 percentage point. Core inflation rose from 3.1% to 3.3%. Mild inflation could give the Central Bank leeway to reduce the policy rate in the coming months to support the economy amidst external downside risks to growth.
Author: Oliver Reynolds, Economist