JAKARTA: Indonesia’s inflation on a yearly basis accelerated more than expected in March to 3.05%, the quickest since August, 2023, data from the statistics bureau showed on Monday.

A Reuters poll of economists had expected an inflation rate of 2.91% in March.

The February annual inflation rate was 2.75%.

On a monthly basis, consumer prices rose 0.52%, reflecting rising demand during the Islamic holy month of Ramadan, which started on March 12 in the country, the statistics bureau said.

Finance ministry sees inflation at 22.5-23.5% in March

Rising prices of food items like eggs, chicken and rice were the main contributors to the monthly inflation rate.

The bureau is due to release the annual core inflation rate data later on Monday.