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Indonesian central bank forecasts December inflation to accelerate faster at 0.4 to 0.6 pct

Xinhua, December 4, 2015 Adjust font size:

Indonesian central bank estimated monthly inflation in December at 0.4 to 0.6 percent, rising from 0.21 percent in November, Agus Martowardojo, governor of the lender said here on Friday.

"Inflation may be at 0.4 to 0.6 percent at the end of December," Mr. Martowardojo said at the bank headquarters.

He said that the country's plan to hold general election to elect governors, heads of district and majors across the country factors to the acceleration.

Besides, demand of foods and transport cost are normally high before the Christmas and New Year.

The central bank expects consumer price index at below 3 to 5 percent this year.

Indonesia's economy picks up by 4.73 percent at the third quarter after expanding at the slowest in six years in the first half year of 4.7 percent, according to the bureau, and for the whole of the year, the central bank estimates the range at 4.7 to 5.1 percent.

The lender has refrained from loosening for this year as it has kept its main rate at 7.5 percent since February on prospect of U.S. Federal Reserve's rate hike, and weakening rupiah against the U.S. dollar. Enditem