JAKARTA: Indonesia’s consumer price index fell 0.09% in February from a year earlier, official data showed on Monday, well below both market expectations and an inflation rate of 0.76% a month earlier.
Analysts polled by Reuters had expected an annual inflation rate of 0.60%. It was the second month in a row the annual CPI rate has come in below the central bank’s inflation target range of 1.5% to 3.5%.
Among the top contributors to the annual deflation were utilities, due to discounted electricity tariffs, and lower prices of some food products such as rice, tomatoes and red chillies.
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On a month-on-month basis, the consumer price index dropped by 0.48%.
The core inflation rate, which strips out government-controlled prices and volatile food prices, picked up slightly to an annual 2.48%, compared to 2.42% expected by analysts and rate of 2.36% in January.
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