Posted 4/1/2024, 5:44:21 AM
Indonesian Inflation Accelerates to 3.05% on Higher Food and Demand During Ramadan
- March inflation in Indonesia rose to 3.05% year-on-year, faster than expected and the quickest pace since August 2023
- Increase reflective of stronger demand during Ramadan fasting month
- Volatile food prices up over 10% annually with rice, meat and chicken costs rising
- Core inflation also higher at 1.77% versus 1.70% forecast
- Data may support central bank keeping interest rates unchanged in coming months
