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Indonesia's inflation likely below target this year: central bank

Xinhua, October 29, 2015 Adjust font size:

Consumer price index in Indonesia is expected to grow below the target of 4 percent this year, Agus Martowardojo, governor of the country's central bank, said here on Thursday.

"We are confident that inflation in 2015 will be lower than 4 percent," Martowardojo said at the parliament building.

Year-to-date inflation reached 2.15 percent, according to Perry Warjiyo, deputy of the central bank.

However, Martowardojo said that food prices in some areas of the country may rise during the prolonged dry season by the year end.

Indonesia has been experiencing dry weather as a result of El Nino since August, which has caused drought and impacted rice production in some parts of the archipelago country.

Experts have said that lower-than-expected inflation is partly due to a decrease in domestic purchasing power following a hike in fuel prices months ago that has led to an increase of overall prices. Endit