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Indonesia's inflation cools to 20-year low in May, as expected

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06/02/2020 | 12:30am EDT
Costumers are seen inside a clothing store at shoping malll in Jakarta

Indonesia's inflation rate cooled to the lowest in 20 years in May, reflecting weak demand as the Southeast Asian country curbed people's movements to contain the spread of the coronavirus.

The consumer price index (CPI) rose 2.19% from a year earlier, the statistics bureau said on Tuesday, close to a Reuters poll's forecast of 2.15% and compared with the previous month's 2.67%.

The May rate was the lowest since June 2000, according to Refinitiv Eikon data.

Statistics bureau chief Suhariyanto said the rate was also low for a month that coincided with the Eid al Fitr festival marking the end of the Muslim fasting month, when consumption usually peaks.

Annual core inflation rate eased slightly to 2.65% in May, from April's 2.85%.

(Reporting by Fransiska Nangoy, Tabita Diela and Gayatri Suroyo; Editing by Kim Coghill)

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