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That was within Bank Indonesia's 2023 inflation target range of 2% to 4%. A deeper look at the data showed that while headline inflation only rose modestly, annual rice inflation accelerated to 13.76% in August, the highest since June 2012. Myrdal Gunarto, economist with Maybank Indonesia, said he expected a limited increase in rice prices going forward due to planned imports from Southeast Asian countries, predicting headline inflation would remain manageable. As for rice inflation, Irman said: "As a staple, the (rice) inflation will affect purchasing power. But generally, food commodities are showing a moderation trend that is offsetting (rising) rice prices' impact."
Persons: Rice, Myrdal Gunarto, Irman Faiz, Irman, Stefanno Sulaiman, Gayatri Suroyo, Kanupriya Kapoor Organizations: Bank, Maybank, Bank Danamon, Thomson Locations: JAKARTA, Indonesia, Maybank Indonesia
Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. Bank Indonesia (BI) plans to issue new rupiah-denominated securities, using its holdings of government bonds as the underlying asset, as a new monetary instrument aimed at attracting foreign portfolio capital flows, Governor Perry Warjiyo said. BI kept the benchmark 7-day reverse repurchase rate (IDCBRR=ECI) at 5.75% for its seventh straight monthly policy review, as widely expected by economists surveyed by Reuters. Guarding the rupiah "is our way to protect the domestic economy, inflation and growth from global spillovers," Warjiyo told reporters. Inflation slowed in July to 3.08%, roughly the midpoint of the central bank's 2% to 4% target range.
Persons: Willy Kurniawan, Perry Warjiyo, Warjiyo, Radhika Rao, Shivaan Tandon, Bank Danamon, Fransiska Nangoy, Bernadette Christina Munthe, Stefanno Sulaiman, Ananda Teresia, Gayatri Suroyo, Martin Petty, Kim Coghill, Kirsten Donovan Organizations: REUTERS, Bank Indonesia, BI, Reuters, Securities, U.S, Treasury, DBS Bank, Capital Economics, Bank, Thomson Locations: Jakarta, Indonesia, JAKARTA, Asia's, China
Indonesia Sept trade surplus seen at $4.8 bln as exports slow
  + stars: | 2022-10-14 | by ( ) www.reuters.com   time to read: +1 min
Summary Trade data due at 0400 GMT on Monday, Oct. 17JAKARTA, Oct 14 (Reuters) - Indonesia's trade surplus likely remained elevated in September, albeit below the level recorded in the previous month, amid a slowdown in export growth, a Reuters poll showed on Friday. The September trade surplus is seen at $4.84 billion, narrower than the previous month's $5.76 billion, according to the median forecast of 12 economists. Indonesia is a major exporter of coal, palm oil, nickel, tin and other commodities. Analysts have warned moderating commodity prices, at a time when imports are rising due to an improving domestic economy, may reduce its trade surplus in the remainder of 2022. "We saw a correction in CPO (crude palm oil) prices, even though coal prices were stable" last month, said Irman Faiz, an economist with Bank Danamon, who predicted a $4.4 billion September surplus.
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