Indonesia's inflation eases, allowing to keep rate steady

16:18, April 01, 2011      

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Indonesia's inflation rate in March accelerated at slower pace in second straight months as foods prices decreased, allowing the central bank to keep its benchmark interest rate at its meeting earlier this month.

Head of National Statistic Agency Rusman Heriawan announced on Friday that annual inflation rate in March decreased to 6.65 percent from 6.84 percent in February. On month, Heriawan said that Indonesia posted the highest deflation in four years of 0.32 percent in March after having inflation of 0.13 percent in February.

Indonesia's central bank kept its benchmark interest rate in March after it raised it by 25 basis points to 6.75 percent on Feb. 4.

"There is no pressure that make the central bank to raise interest rate this month," Rosady Montol, economist at state owned Bank Negara Indonesia (BNI) told Xinhua on Friday.

Great rice harvests, had started from February, in some areas which increase rice supply and the significantly decrease of chili prices, had significantly contributed on the decline of inflation and may continue to April, the economist said.

Source: Xinhua
 
 
     
 
 
 
     
 
 
 
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