JAKARTA: Indonesian inflation hit a four-year high on a monthly basis in January as food prices soared following severe flooding across the country, an official said on Friday.
The monsoonal downpour pushed inflation to 1.03 per cent last month from 0.54 per cent in December, while it also accelerated to 4.57 per cent year on year, from 4.3 per cent, Central Statistics Bureau chief Suryamin said.
"Bad weather in January caused some food prices to increase, including chillies and chicken. Food was the biggest driver of inflation last month," Suryamin told reporters.
However, core inflation, which excludes volatile food prices, eased to 4.32 per cent from 4.4 per cent the previous month.
The country's central bank, Bank Indonesia, has left its benchmark interest rate unchanged at a record low of 5.75 per cent since February, having kept inflation within the target range of 4.5-5.5 per cent.
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Strategy, Investment and Management, focusing Health care and Life Science with expertise in ASEAN 's area. We are currently changing the platform of www.yourvietnamexpert.com, if any request, please, contact directly Dr Christian SIODMAK, business strategist, owner and CEO of SBC at email@example.com. Many thanks.