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Indonesia's inflation edges off in 2018
Last Updated: 2019-01-02 16:51 | Xinhua
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Indonesian annual inflation accelerated at a slower pace in December, within the target range of the central bank in November.

The national statistics bureau announced on Wednesday that consumer price index touched a 3.13 percent in December year-over-year, compared with a 3.23 percent annual inflation in November.

The price hike of non-subsidized fuel contributed the most to the acceleration of prices last year, head of the bureau Kecuk Suhariyanto said.

"The commodity contributed, the highest, to the price hike was gasoline fuel which is not subsidized," he added.

The Indonesian government rose prices of several types of non-subsidized fuel on July 1, 2018.

The annualized core inflation, stripping off government-controlled and volatile food prices, ticked up to 3.07 percent in December from 3.03 percent in November, the official said.

Indonesia's central bank, Bank Indonesia, has extended tightening cycle by edging up its interest rate of 175 basis points to 6 percent since May 17 to shore up rupiah value against the greenback.

The central bank targeted inflation at the range of 2.5 to 4.5 percent last year.

The government edged lower economic growth target in 2018 to the range of 5.17 to 5.4 percent from the initial estimate of 5.4 percent following the tightening policies.

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