JAKARTA - Year-on-year inflation in Indonesia for the month of May is likely to be lower than the month before as prices of most basic goods were steady, according to the senior deputy governor of Bank Indonesia, the central bank on Thursday. The consumer price index was down 0.16 percent in April from March but was up 6.29 percent year-on-year.
"Month-on-month inflation in May is likely to be small because there was no significant price rise," said Miranda Goeltom from Bank Indonesia. "The price of cooking oil did increase but prices of other products such as rice have fallen. I think year-on-year inflation in May will be lower," she told.
The Central Bureau of Statistics (BPS) is expected to announce official inflation data after the weekend.