Indonesia: Inflation surprised to the upside in December – UOB – by pabspiovano Indonesia Inflation CPI Banks
Key Takeaways
“The food, beverage, and tobacco price hikes alongside higher transportation prices led inflation to continue accelerating at 0.7% m/m. We expect overall inflation will stay elevated for months ahead as the second-round impact from the higher fuel prices has not been fully transmitted.”to trend down slightly lower to 4%. We also keep our forecast for BI to continue hiking to reach its peak point of 6% in 1Q23, after raising a cumulative 200 bps during 2022 to 5.50%.
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