Indonesia: Inflation picks up markedly in May
Consumer prices increased 0.68% in May over the previous month, up from April’s 0.44% increase. May’s print was driven by higher food prices, linked to Ramadan.
Inflation rose from 2.8% in April to 3.3% in May, the highest reading in 13 months and moving further within Bank Indonesia’s target range of 3.5% plus or minus 1.0 percentage point. Core inflation was stable at 3.1%.