Indonesia's CPI rises 3.32% y/y in May, beats estimates (IDR keeps gains)

Indonesia’s annual inflation rate accelerated further in May, according to the latest data published by Statistics Indonesia on Monday.

Indonesian May’s annual inflation rate rose to 3.32% on the year, compared with April’s 2.83% and 2.69% expectations but remained between the Bank Indonesia’s (BI) 2.5-4.5% target range. The annualized core figure arrived at 3.12% vs. 3.04% previous and 3.05% expected.

Meanwhile, the monthly inflation reading for May came in at 0.68% vs. 0.32% expected and 0.44% last.

The USD/IDR cross keeps the offered tone intact near 14,230 but moves-off lows despite a beat on the Indonesian CPI figures for the month of May.