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On a quarterly, non-seasonally adjusted basis, GDP expanded 3.86%, compared with the poll's prediction of 3.72% growth. Meanwhile, exports contracted 2.75% in the second quarter on a yearly basis, in stark contrast to last quarter's growth of more than 10%. Myrdal Gunarto, economist with Maybank Indonesia, said he might raise his bank's full-year 2023 GDP growth outlook of 5.05%, but described the second quarter data as "a sign that economic activities had peaked". The better-than-expected data may spur monetary policymakers to shift their focus from growth to the current account, as strong domestic demand typically leads to rising imports, said Fakhrul Fulvian, economist with Trimegah Securities, who maintained his full-year 2023 GDP growth outlook at 5%. The government is targeting the same growth rate for 2023.

Persons: Eid, Joko Widodo's, Myrdal Gunarto, Myrdal, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska Nangoy, Gayatri Suroyo, Martin Petty, Sonali Paul Organizations: Asia's, Statistics, Reuters, Maybank, Trimegah Securities, U.S ., Bank, DBS Bank, Thomson Locations: JAKARTA, Statistics Indonesia, Maybank Indonesia, Indonesia, Bank Indonesia

Summary June headline inflation at 3.52% vs 3.64% in Reuters pollCore inflation at 2.58% vs 2.64% in pollSome economists forecast interest rate cut in Q3JAKARTA, July 3 (Reuters) - Indonesia's annual inflation rate in June eased to 3.52%, settling into the central bank's target range for a second straight month, data from the statistics bureau showed on Monday. Headline inflation dropped to its lowest since April 2022 and came in below the 3.64% expected in a Reuters poll and below the 4.00% seen in May. Transportation fares, food prices and rents rose in June, Pudji Ismartini, deputy head of Statistics Indonesia, said in a press conference. The core inflation rate, which strips out government-controlled and volatile food prices, eased to 2.58% in June from 2.66% a month before. The poll had expected 2.64% core inflation.

Persons: Pudji Ismartini, Fakhrul Fulvian, Radhika Rao, Stefanno Sulaiman, Fransiska, Kanupriya Kapoor Organizations: Reuters, Bank, Statistics, BI, Trimegah Securities, DBS, Thomson Locations: JAKARTA, Asia's, Statistics Indonesia

☆ Indonesia's 2022 GDP growth races to a 9-year high on resource boom
▼ + stars: | 2023-02-06 | by ( ) www.cnbc.com time to read: +2 min

Southeast Asia's largest economy gained from high global commodities prices in the aftermath of the Russia-Ukraine war that aided the rupiah and improved the country's current account. The economy expanded 5.31% in 2022, Statistics Indonesia data showed on Monday, its best annual growth rate since 2013, and faster than the 5.29% expected in a Reuters poll. Investment grew 3.87% last year, similar to 2021's growth but is yet to return to pre-pandemic levels, the statistics bureau said. Exports grew on the back of soaring commodity prices after the Russia-Ukraine war began in February. Meanwhile, government spending in 2022 contracted as Jakarta started to ease back from pandemic-era health and social spending.

☆ Indonesia's Dec inflation inches up to 5.51% y/y
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 2 (Reuters) - Indonesia's inflation rose slightly in December and remained above the central bank's target range for the seventh successive month, official data showed on Monday, as household spending rose during the year-end holidays. The headline annual inflation rate picked up to 5.51% in December, compared with 5.42% in November and 5.39% expected by analysts polled by Reuters. Bank Indonesia's (BI) inflation target range is 2% to 4%. BI raised the key policy rate by a total of 200 basis points in August to December to bring inflation to within its target range this year. December's prices were propped up by higher prices of fuel, air fares, house rents and foodstuff such as rice and eggs, Statistics Indonesia chief Margo Yuwono told a news conference.

☆ Indonesia inflation eased further in November but stays above target
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: +1 min

Indonesia's inflation eased in November but stayed above the central bank's target range for the sixth consecutive month amid rising food prices and higher transportation fares, official data showed on Thursday. The headline annual inflation rate eased to 5.42% in November, compared with 5.71% in October and 5.50% expected by analysts polled by Reuters. Bank Indonesia's inflation target range is 2% to 4%. The annual core inflation rate, which excludes government-controlled prices and volatile food prices, edged lower to 3.30% from 3.31% in October. Meanwhile, the price of rice, a staple food in Indonesia, was still rising last month, although the pace had slowed, he said.

☆ Indonesia foreign arrivals rebound further in September
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Nov 1 (Reuters) - Foreign arrivals to Indonesia in September hit their highest level since the start of the pandemic, official data showed on Tuesday, as more visitors returned to resort destinations like Bali after an easing of COVID-19 restrictions. There were about 538,300 arrivals in September, up from only 5,000 in the same month a year ago, with the majority going to Bali, said Setianto, deputy head of Statistics Indonesia. Arrivals in September were slightly ahead of the previous month's figure of 510,200. For the January-Sept period, Indonesia saw 2.27 million visitors compared with 86,245 in the same period last year, when travel restrictions to curb COVID-19 were in place. However, arrivals remained far below the pre-pandemic levels in the same periods of 2018 and 2019, when Indonesia had nearly 10 million foreign visitors.

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