Inflation rate eased back to BI target range for the first time since May 2022
Headline inflation moderated to 4.00% YoY (Apr: 4.33%), lower than the consensus of 4.23% and within Bank Indonesia’s (BI) inflation target band of 2.0% - 4.0% for the first time since May 2022
- MoM: increased marginally (0.09%; Apr: 0.33%) but at its slowest pace in the past seven months.
- Core inflation: edged down (2.66% YoY; Apr: 2.83%), lowest since June 2022.
A broad-based moderation led by slower rise in food, beverage & tobacco and transportation
- Food, beverage & tobacco (4.27%; Apr: 4.58%): slowed to a 14-month low.
- Transportation (10.62%; Apr: 11.96%): moderated to a nine-month low but remained at a double-digit rate.
- Housing, water, electricity & other fuel (2.48%; Apr: 2.53%): moderated to an 11-month low.
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