CPI likely to increase 4.57% y/y in October.

By bne IntelliNews November 1, 2012
Indonesia's consumer price index (CPI) is expected to increase 4.57% y/y in October this year, as compared to the growth of 4.31% y/y registered in September, due to a mild increase in basic food prices. As reported by Dow Jones Global Equities News, Danamon economist Anton Gunawan, stated that the prices likely increased in some basic food like rice, beef, chicken and chilli, but it declined for eggs, cooking oil, sugar and onions due to the Hajj Pilgrimage celebrations. The central bank is likely to leave the benchmark interest rate unchanged at 5.75% for the remaining year, so as to support the economy amid global slowdown. The inflation is likely to reach its annual target of 3.5%-5.5% this year.

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