Indonesia March inflation rate at highest in seven months

Indonesia March inflation rate at highest in seven months

/ 05:07 PM April 01, 2024

Indonesia March inflation rate at highest in seven months

A general view of the skyline of Jakarta, the capital city of Indonesia, August 5, 2021. REUTERS/Ajeng Dinar Ulfiana/File Photo

JAKARTA —Indonesia‘s inflation on a yearly basis accelerated more than expected in March to 3.05 percent, the quickest since August, 2023, data from the statistics bureau showed on Monday.

A Reuters poll of economists had expected an inflation rate of 2.91 percent in March. The February annual inflation rate was 2.75 percent.

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On a monthly basis, consumer prices rose 0.52 percent, reflecting rising demand during the Islamic holy month of Ramadan, which started on March 12 in the country, the statistics bureau said.

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Rising prices of food items like eggs, chicken and rice were the main contributors to the monthly inflation rate.

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The bureau is due to release the annual core inflation rate data later on Monday.

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TAGS: food prices, Indonesia, Inflation

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