JAKARTA - INDONESIA'S consumer price index (CPI) in November rose 11.68 per cent from a year earlier, the Statistics Bureau said on Monday, above expectations, and analysts expect the central bank to hold rates unchanged this week.
Analysts polled by Reuters had forecast annual inflation of 11.60 per cent in November, following October's inflation rate of 11.77 per cent.
Month-on-month inflation was 0.12 percent in November against a market forecast of 0.14 per cent and compared to 0.45 per cent in the previous month. The monthly figure is not seasonally adjusted.
The majority of analysts polled before the data was released had predicted that the central bank would keep its benchmark rate unchanged at its next policy meeting, due on Thursday.
Sunday, December 14, 2008
Indonesia inflation 11.68 pct in November: statistics agency
Jakarta (ANTARA News) - Indonesia's annual inflation dropped to 11.68 percent in November from 11.77 percent in October due to lower energy and commodity prices, according to official figures Monday.
The November consumer price index (CPI) fell to 0.12 percent month on month compared to 0.45 percent the month before, the statistics agency was quoted by AFP as saying.
The latest figures fell below the median forecast of 11 economists polled by Dow Jones Newswires, who predicted an average CPI rise of 0.17 percent month
on month and 11.71 percent year on year.
Despite the easing inflation, analysts predicted the nation's central bank, Bank Indonesia, will not cut its policy rate from 9.50 percent when it meets Thursday.
Fears over a vulnerable rupiah, which has fallen by 24 percent against the dollar this year, will likely stay the central bank's hand, analysts said. (*)
The November consumer price index (CPI) fell to 0.12 percent month on month compared to 0.45 percent the month before, the statistics agency was quoted by AFP as saying.
The latest figures fell below the median forecast of 11 economists polled by Dow Jones Newswires, who predicted an average CPI rise of 0.17 percent month
on month and 11.71 percent year on year.
Despite the easing inflation, analysts predicted the nation's central bank, Bank Indonesia, will not cut its policy rate from 9.50 percent when it meets Thursday.
Fears over a vulnerable rupiah, which has fallen by 24 percent against the dollar this year, will likely stay the central bank's hand, analysts said. (*)
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