Indonesia's inflation hits 5-year high, above central bank target

1/7/2022 5:33:00 AM

Indonesia's inflation hits 5-year high, above central bank target

Indonesia's inflation hits 5-year high, above central bank target

JAKARTA : Indonesia's inflation rate rose at the fastest pace in five years in June, topping forecasts and breaching the central bank's target range amid rising food prices, official data showed on Friday.The June annual inflation rate accelerated to 4.35 per cent, the highest since June 2017 and above th

JAKARTA : Indonesia's inflation rate rose at the fastest pace in five years in June, topping forecasts and breaching the central bank's target range amid rising food prices, official data showed on Friday.The June annual inflation rate accelerated to 4.35 per cent, the highest since June 2017 and above the 4.17 per cent forecast in a Reuters poll, compared with 3.55 per cent in May. Bank Indonesia's target range is 2 per cent to 4 per cent.

However the annual core inflation rate, which strips out government-controlled and volatile prices, came in below market expectations at 2.63 per cent in June. The poll had forecast a 2.72 per cent rate and May's 2.58 per cent.

Read more: CNA »

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LinkedIn JAKARTA : Indonesia's inflation rate rose at the fastest pace in five years in June, topping forecasts and breaching the central bank's target range amid rising food prices, official data showed on Friday.LinkedIn BEIJING : China's factory activity likely expanded in June for the first time in four months, driven by a faster recovery in production and an easing of supply chain snags as manufacturing hubs emerged from lockdowns, a Reuters poll showed on Wednesday.LinkedIn BEIJING : Retail car sales in China jumped 28 per cent during June 20 to June 26 compared with the same period in May, data from the China Passenger Car Association (CPCA) showed.Get newsletters curated for you Theatre veteran Adrian Pang to direct this year's NDP show segment The Story Of Us has five segments and takes viewers on a journey through the last two years of Covid-19.

The June annual inflation rate accelerated to 4.35 per cent, the highest since June 2017 and above the 4.5 in June - the highest in a year - from 49.17 per cent forecast in a Reuters poll, compared with 3.55 per cent in May. A reading above 50 indicates expansion from the previous month, below 50 means contraction. Bank Indonesia's target range is 2 per cent to 4 per cent. READ MORE HERE Can NFTs set the Singapore art market on fire? Even established artists such as Ong Kim Seng and Goh Beng Kwan, as well as institutions like the National Gallery of Singapore, are starting to dabble in the controversial area.

However the annual core inflation rate, which strips out government-controlled and volatile prices, came in below market expectations at 2.S.63 per cent in June. The poll had forecast a 2. The key drivers would be an accelerated resumption of production amid easing COVID curbs and possibly higher demand for upstream production with stronger boost to infrastructure, analysts at Morgan Stanley said in a note.72 per cent rate and May's 2.58 per cent. Though activity in China is gaining momentum from the lengthy COVID lockdown in April and May, headwinds, including a still subdued property market, soft consumer spending and fear of any recurring waves of infections, persist.

Source: Reuters .