Indonesia maintains low inflation rate in March

Source: Xinhua| 2019-03-30 00:11:10|Editor: yan
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JAKARTA, March 29 (Xinhua) -- Indonesia's inflation as of the fourth week of March has reached 0.14 percent, contributed by increasing prices of domestic airfares and agriculture commodities of chili, shallots and garlic, results of a recent survey carried out by Indonesian central bank said on Friday.

The controllable month-to-month inflation figure in March contributed to the year-on-year and year-to-date figures to 2.51 and 0.39 percent respectively.

The low inflation has led to the preserved public purchase power throughout the month.

"Thanks to the relatively-low inflation in March, national Consumer Confidence Index would ascend to 27.9 points this month, or higher than 125.1 points last month," Deputy Governor of the Indonesian central bank, Bank Indonesia (BI), Dody Budi Waluyo said here.

Indonesia registered 0.08 deflation in February that led to 2.57 percent year-on-year inflation, thanks to decreasing prices of several food commodities.

The deflation figure in February this year was the best figure in the corresponding month since 2017, Indonesia's Central Statistics Bureau (BPS) said earlier.

The Indonesian government and BI have set inflation target at a range of 2.5 to 4.5 percent for this year, equals to the range set last year.

The southeast Asia's largest economy posted 3.13 percent inflation, or within the target range last year. The controllable inflation was achieved amid turbulence of national currency exchange rate against the U.S. dollar throughout the year.

Indonesia obtained five-year high economic growth at 5.17 percent last year, expecting a 5.2 percent growth this year on the back of increasing public consumption from elections event and the Muslim's Idul Fitri festivity.

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