Indonesia Jan inflation 2.68%, lower than expected

JAKARTA (Reuters) – Indonesia’s annual inflation rate in January was 2.68% in January, the statistics bureau said on Monday, below market expectations.

Analysts polled by Reuters had forecast a reading of 2.86%.

The inflation figure was calculated using the bureau’s new formula, which changes the base year of the Consumer Price Index (CPI) to 2018 from 2012 and includes new pattern of consumption.

The bureau said it cannot be compared with December’s rate of 2.72%, which was calculated with its old formula.

The annual core inflation rate, which excludes government controlled and volatile prices, was 2.88% in January. Analysts had expected 3.00%.

(Reporting by Tabita Diela and Nilufar Rizki; Writing by Gayatri Suroyo; Editing by Kim Coghill)

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