Jakarta, Indonesia (News Today) - Indonesia’s central bank held its benchmark interest steady at 6.75 percent on Friday as concerns about inflation eased this week thanks to softening food prices. Consumer prices rose 6.84 percent in February from a year earlier, down from January’s 7.02 percent increase, the country’s statistics agency announced on Tuesday.The easing of inflation and a hold in rates come as the country struggles to tame soaring prices blamed on increased food costs as well as huge inflows of foreign cash from investors seeking better returns than in the West. Such worries led Bank Indonesia to raise its benchmark overnight rate by 25 basis points last month for the first time since August 2009.
Statistics Agency head Rusman Heriawan said the consumer price index might fall month on month in March as inflationary pressures were seen easing. Extreme weather that disrupted harvests and food distribution pushed last year’s annual inflation close to seven percent, above the official target of 4.0-6.0 percent.
Source : kompas
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