By I Made Sentana
JAKARTA--Indonesia's inflation eased in December as authorities managed to curb prices of basic commodities, while household spending held up amid lingering economic uncertainty.
The official Statistics Agency said Tuesday that Indonesia's consumer price index rose 3.02% in December from a year earlier, slower than November's 3.58% increase. Compared with a month earlier, consumer inflation slowed to 0.42% from 0.47% in November.
The median forecast of 10 economists polled by The Wall Street Journal was for 3.15% year-on-year inflation. The seven economists in the poll who made month-on-month forecasts produced a median forecast of 0.54%.
Core inflation, which excludes the volatile commodity prices andthose regulated by the government, was steady at 3.07% compared with a year ago.
"Most prices were well under control this year compared with last year," said Suharyanto, the chairman of the agency.
Year-end inflation was within Bank Indonesia's 3%-5% target. But economists said Bank Indonesia's quarter-point interest rate cut in October would for now be the last one to help economic growth.
Write to I Made Sentana at email@example.com
(END) Dow Jones Newswires
January 02, 2017 23:46 ET (04:46 GMT)
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