(Reuters) – Indonesia’s annual inflation rate is seen slowing in June from a month earlier as prices of goods and services return to normal following the Muslim fasting month of Ramadan, a Reuters poll showed.
The consumer price index (CPI) was predicted to rise 3.18% from a year earlier, according to the median forecast of 13 economists polled by Reuters, cooling from the 3.32% inflation rate in May and staying within Bank Indonesia’s (BI) 2.5%-4.5% comfort range.
Inflation - Rate - Ramadan - Muslim-majority - Country
Inflation rate typically peaks during Ramadan in the Muslim-majority country as people ramp up spending before the Eid al-Fitr festival, which this year fell on June 5.
Economists said relatively low inflation readings, a narrowing current account deficit, and a stable...
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