Jakarta: Indonesia's Consumer Price Index (CPI) accelerated to 0.32% (mtm) in May 2021 from 0.13% (mtm) the month earlier, according to the Central Statistics Agency (BPS).
Annually, the CPI was recorded at 1.68% (yoy), up from 1.42% (yoy) in the previous period.
"Demand was higher in May 2021 due to Ramadan and Eid holiday," said the agency's deputy for statistics of distribution and services, Setianto, during a video conference here on Wednesday.
Last month, Bank Indonesia (BI) decided to hold the BI 7-Day Reverse Repo Rate at 3.50%, while also maintaining the Deposit Facility (DF) rates at 2.75% and Lending Facility (LF) rates at 4.25%.
The decision is consistent with projected low inflation and efforts to maintain rupiah exchange rate stability, while accelerating the national economic recovery.
Moving forward, the central bank remains firmly committed to maintaining price stability and strengthening policy coordination with the central and regional governments through national and regional inflation control teams (TPI and TPID) to control headline inflation within the predetermined target range, namely 3.0%±1% in 2021.
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