JAKARTA, Indonesia--Inflation in Indonesia continued easing in October, as prices of many basic commodities fell, and the government's assurance it wouldn't raise electricity charges until at least next year is keeping inflation expectations low.
The Consumer Price Index, which is used to gauge inflation across the country, rose 3.58% in October from a year ago, easing from 3.72% in September. From a month earlier, prices of goods and services increased by 0.01% in October after rising 0.13% a month earlier in September, the official statistics agency said on Wednesday.
Continue Reading Below
"Prices of basic food commodities fell 0.45% in October" from a month earlier, said agency Chairman Suhariyanto. He said that among the commodities whose prices fell were rice, garlic, and red chile.
The median forecast of 10 economists polled by The Wall Street Journal is for 3.67% on-year inflation and 0.1% month on month.
Core inflation, which excludes volatile food prices and other prices administered by the government edged up slightly to 3.07% year on year from 3.00% in September.
Bank Indonesia recently said that easing inflation isn't a sign of weakening purchasing power.
write to I Made Sentana at firstname.lastname@example.org
(END) Dow Jones Newswires
November 01, 2017 00:53 ET (04:53 GMT)