BR100 3,671 Increased By ▲ 19 (0.52%)
BR30 18,781 Increased By ▲ 166 (0.89%)
KSE100 35,695 Increased By ▲ 322 (0.91%)
KSE30 15,433 Increased By ▲ 151 (0.99%)
COVID-19 TOTAL DAILY
CASES 237,489 2980
DEATHS 4,922 83
Sindh 97,626 Cases Today
Punjab 83,599 Cases Today
Balochistan 10,919 Cases Today
Islamabad 13,650 Cases Today
KP 28,681 Cases Today
World

Indonesia July inflation seen staying near June rate

JAKARTA: Indonesia's annual inflation rate in July is predicted to stay around the same rate as in June, well within Ban

Jul 30 2019

JAKARTA: Indonesia's annual inflation rate in July is predicted to stay around the same rate as in June, well within Bank Indonesia's (BI) target range, a Reuters poll showed on Tuesday.

The Consumer Price Index (CPI) is seen rising 3.27% from a year earlier, according to the median forecast of 13 economists polled by Reuters, barely changing from the 3.28% rate in June.

The central bank expected a July inflation rate of 3.23% on-year, Governor Perry Warjiyo said on Friday, reiterating that low inflation gives BI room for more accommodative policy. BI's target range for this year is 2.5%-4.5%.

Soaring chilli prices offset a fall in transportation tariffs and shallots prices, Ryan Kiryanto, chief economist at state lender Bank Negara Indonesia, said. Chilli is a staple ingredient in Indonesian cuisine.

BI cut its benchmark rate by 25 basis points for the first time in nearly two years at a policy meeting earlier this month.

The annual core inflation rate, which excludes government-controlled and volatile food prices, is seen at 3.17% in July, according to a median of six analysts, cooling from 3.25% a month before.

Copyright Reuters, 2019