Business News Asia
According to Indonesia’s Bureau of Statistics (BPS), annual inflation rose to 2.18% in January from 1.87% in December, exceeding the central bank’s target of 1.8%. This was the first time in two years that the official inflation rate rose by more than 2%. Analysts have predicted an increase of 2.15%.
The inflation rate also reached its highest level since May 2020, with the sharpest increase in food prices.
Annual core inflation (excluding government-controlled and volatile commodity prices) rose to 1.84% in January from 1.56% in December, above forecasts of 1.71 %