Indonesia October Inflation Eases Slightly to 3.23% y/y

INFLATION - JAKARTA. Indonesia's annual inflation rate slowed slightly to 3.23% in October, from 3.28% in September, official data showed on Monday, compared with the 3.29% expected in a Reuters poll.

The central bank's target band is between 1.5% to 3.5% for 2026 and 2027.

The annual core inflation rate, which strips out government-controlled prices and volatile food prices, was 2.56%, compared with the poll forecast of 2.75%.

Read Also: GLOBAL MARKETS-Shares Steady as Apple Earnings Near, Oil Eases

Drivers of October inflation were mainly food prices, including chili, rice and beef, as well as higher transport fares caused by fuel price rises, said Ateng Hartono, deputy chief of Statistics Indonesia said.

Bank Indonesia raised its benchmark rate by a total of 100 basis points between May and June to shore up the falling rupiah and anchor inflation.

Read Also: Singapore Braces as Indonesia Slaps Back at Neighbours Amid Haze, Political Woes