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Indonesia February inflation accelerates to 5.31%

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(Globalpost/GlobalPost)

Indonesian inflation in February hit a 20-month high after government measures to limit commodity imports pushed up consumer prices, an official said Friday.

Inflation rose 5.31 percent on-year, edging closer to the target range cap of 5.5 percent, while on-month inflation was 0.75 percent, slower than the four-year high recorded in January of 1.03 percent.

"One cause of high inflation in February was the import restrictions on certain commodities, such as horticulture products, so the prices of goods have increased," Central Statistics Bureau chief Suryamin told reporters.

Core inflation, which excludes volatile food prices, slowed to 4.29 percent from 4.32 percent in January.

The central bank has kept its benchmark interest rate at 5.75 percent for the past year and is unlikely to change it as inflation, although accelerating, is still within the target range of 4.5 to 5.5 percent.

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http://www.globalpost.com/dispatch/news/afp/130228/indonesia-february-inflation-accelerates-531