central bank: Indonesia's inflation in June seen at 0.3-0.4%

GMT 14:50 2014 Friday ,27 June

Arab Today, arab today central bank: Indonesia's inflation in June seen at 0.3-0.4%

The headquarters of Bank Indonesia
Jakarta - XINHUA

Indonesia's consumer price index in June was forecast at 0.3 to 0.4 percent, rising from 0.16 percent in May, Mirza Adityaswara, senior deputy governor of the central bank, disclosed here on Friday.
But the June figure remained below the month's average of seasonal figure of 0.56 percent, he said.
Muslims in Indonesia, the world biggest Muslim country, are to start performing fasting on June 28, and the demand for foods commonly soars before the Islamic holy month of Ramadan.
Most of Indonesia's 238 million population are Muslims.
"Our forecast (inflation) in June is between 0.3 percent to a little bit below 0.4 percent. It means that the inflation in June is good," the deputy governor said at the central bank headquarters.
The banker revealed that the June inflation forecast is still in line with the central bank's inflation target of 4.5 to 5.5 percent at year end.
That may lead the central bank to keep its benchmark interest rate unchanged at 7.5 percent and its tight monetary policy this year.
The tight policy aims at guarding the Southeast Asia's largest economy from possible risks of the global economy amid efforts to narrow the current account gap, Agus Martowardojo, governor of the bank has said.
The bank has aggressively raised its benchmark interest rate by 1.75 percentage points to 7.50 percent from last June to November, which has been successful in putting Indonesia on a right course to fare better among the emerging economies battered by capital outflows.
The Indonesia economy is forecast to expand by 5.5 percent this year after chalking up a 5.78 percent growth last year.
The national statistics bureau is to announce the inflation figure on Tuesday.

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