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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
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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