World Economic outlook - Indonesia CPI november 2012 : Inflation in Indonesia unexpectedly slowed in November, partly because of relatively steady food prices, leaving the central bank room to hold its benchmark interest rate steady for a 10th consecutive month.
The official Central Statistics Agency said Monday the consumer price index--the country's main gauge of inflation--rose 4.32% in November from a year earlier, down from October's 4.61% increase.
Prices were up 0.07% from October, compared with a 0.16% sequential rise in the preceding month. Prices of gold and volatile foodstuffs, however, fell from October, Sasmito Hadi Wibowo, deputy head of the agency, told reporters.
November's on-year inflation rate was lower than the median 4.57% rise forecast by 12 economists polled earlier by Dow Jones Newswires. Nine of those economists had predicted a 0.29% on-month rise.
Year-on-year core inflation, which excludes volatile components such as food products and prices of goods governed by administrative controls, was 4.40% in November, down from 4.59% in October.
Many economists expect Bank Indonesia to leave its benchmark interest rate at 5.75% for the rest of the year to support the economy amid a global slowdown and as inflation remains within the bank's targeted range of 3.5%-5.5%.
Unlike many central banks in the region that have started to lower rates to help their economies weather the global downturn in recent months, Bank Indonesia has held its rate steady since March following a full percentage point of cuts starting in October 2011. The rupiah's weakness against the dollar because of the country's current-account deficit is preventing the chances of a rate cut.
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