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Jakarta Post

Inflation continued to ease in February

  • Aditya Suharmoko


JAKARTA   /   Tue, March 3 2009   /  12:18 pm

JP/IRMA Inflation further slowed in February, according to the Central Statistics Agency (BPS), providing more headroom for the central bank to cut its benchmark interest rate to spur economic activities and growth. On-year inflation stood at 8.6 percent last month, down from 9.17 percent in January, BPS head Rusman Heriawan said in a press conference on Monday. But consumer prices rose 0.21 percent from January. Indonesia previously saw deflation in January and December of 0.07 percent and 0.04 percent, respectively. Aside from foods, gold was among the items whose price was up significantly. “The gold price follows the exchange rate (of rupiah to the US dollar),” said Rusman. Since February, the rupiah has hovered around the 12,000 level to the dollar. On Monday, the rupiah declined 0.1 percent to 11,989 at 4:34 p.m. in Jakarta, Bloomberg reported. ...