Indonesia's CPI rebounds to 2.83% y/y in April, beats estimates

Indonesia’s annual inflation rate picked up pace in April from a decade low, according to the latest data published by the Statistics Indonesia on Thursday.

Indonesian April’s annual inflation rate rebounded to 2.83% on year, compared with March’s decade low of 2.48%, but remained between the Bank Indonesia’s (BI) 2.5-4.5% target range. The annualized core figure arrived at 3.05% vs. 3.03% previous and 3.04% expected.

Meanwhile, the monthly inflation reading for April came in at 0.44% vs. 0.32% expected and 0.11% last.

According to the latest Reuters poll, the April annual inflation rate was forecast by 13 analysts to accelerate to 2.69% on year, compared with March’s 2.48%.