Indonesia’s inflation accelerated to a seven-year high, driven by soaring food prices, data showed on Monday, sparking calls for an interest rate hike, though the central bank governor signalled he was unperturbed as core inflation remained low. At 4.94%, the July inflation rate was the highest since October 2015, reflecting rising prices of food, household fuel and airfare, and hikes in some electricity tariffs. A Reuters poll had expected a rate of 4.82%. June’s rate was 4.35%.
Published in The Express Tribune, August 2nd, 2022.
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