Transportation fares, food prices and rents rose in June, Pudji Ismartini, deputy head of Statistics Indonesia, said in a press conference. Meanwhile, prices of telecommunications and some financial services eased.
The core inflation rate, which strips out government-controlled and volatile food prices, eased to 2.58 percent in June from 2.66 percent a month before. The poll had expected 2.64 percent core inflation.“We expect BI to start becoming more dovish although they continue on the stability stance for monetary policy this year,” said Trimegah Securities economist Fakhrul Fulvian, who expected the central bank to start easing the policy rate in August or September.
BI at its June policy meeting left its key interest rates unchanged for a fifth consecutive meeting and said it would focus on keeping the rupiah exchange rate stable amid global uncertainties.Meanwhile, Radhika Rao of DBS forecast a rate cut late in the third quarter.Subscribe to our daily newsletter
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