JAKARTA: Indonesia’s consumer price index fell 0.09% in February from a year earlier, official data showed on Monday, well below both market expectations and an inflation rate of 0.76% a month earlier.
Analysts polled by Reuters had expected an annual inflation rate of 0.60%. It was the second month in a row the annual CPI rate has come in below the central bank’s inflation target range of 1.5% to 3.5%.
Among the top contributors to the annual deflation were utilities, due to discounted electricity tariffs, and lower prices of some food products such as rice, tomatoes and red chillies.
Indonesia’s Oct inflation eases to 1.71%
On a month-on-month basis, the consumer price index dropped by 0.48%.
The core inflation rate, which strips out government-controlled prices and volatile food prices, picked up slightly to an annual 2.48%, compared to 2.42% expected by analysts and rate of 2.36% in January.
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