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Indonesia’s October Inflation Rate Eases to 3.58%

Jakarta. Indonesia’s annual inflation rate eased for a fourth straight month in October, reaching its lowest level since January, as price increases of some foods continued to slow.

The headline consumer price index rose 3.58 percent in October, compared with the 3.72 percent increase in September.

Analysts polled by Reuters had forecast a rise of 3.68 percent.

On a monthly basis, the CPI rose slightly by 0.01 percent last month. A rise in college fees in some regions contributed to the increase, but prices of food and transportation fell.

The annual core inflation rate, which excludes administered and volatile food prices, increased 3.07 percent, compared with 3.00 percent in September. The poll had expected it to rise 3.06 percent.

Low inflation gave the central bank room to cut the key interest rate in August and again in September in a bid to boost lending and economic growth.

Reuters