Business

Indonesia's July annual inflation rate rises to 1.52%

FILE PHOTO: Traditional market in Jakarta amid the coronavirus disease (COVID-19) outbreak
FILE PHOTO: Vendors wearing protective masks to prevent the spread of the coronavirus disease (COVID-19) wait for customers at a traditional market in Jakarta, Indonesia, March 1, 2021. REUTERS/Willy Kurniawan
(Updated: )

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JAKARTA: Indonesia's annual inflation rate picked up pace in July as prices of some food and health products rose, data from the statistics bureau showed on Monday (Aug 2).

The July consumer price index rose 1.52per cent on yearly basis, higher compared with 1.45 per cent expected in a Reuters poll and a 10-month-low inflation rate of 1.33 per cent in June.

Southeast Asia's biggest economy headline inflation has stayed below the central bank's target range of 2per cent to 4per cent since mid-2020, as domestic demand dropped amid the COVID-19 pandemic.

The annual core inflation rate, which excludes government-controlled and volatile prices, eased slightly to 1.40 per cent from 1.49 per cent in June, and compared to a 1.38 per cent forecast.

(Reporting by Fransiska Nangoy, Bernadette Christina Munthe; Editing by Christian Schmollinger)

Source: Reuters