JAKARTA (Reuters) – Indonesia’s annual inflation rate is seen accelerating in May from a month earlier amid Ramadan and Eid al-Fitr celebration when most Indonesians spend more for food and transportation, a Reuters poll showed on Thursday.
The annual consumer price index (CPI) was forecast to rise 3.17%, according to the median forecast of 13 analysts polled by Reuters. That compared with the inflation rate of 2.83% in April.
Forecast - Line - Bank - Indonesia - BI
The forecast is broadly in line with Bank Indonesia’s (BI) estimate of 3.1% inflation last month which remains within the central bank’s headline inflation target of 2.5% to 4.5% in 2019.
The seasonal price hike was a “decent rise”, said Andry Asmoro, Bank Mandiri chief...
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