Inflation rate to peak in Indonesia | Bangkok Post: news

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Indonesia inflation rate poised to peak

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  • Online news: Asia
  • Writer: Bloomberg
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MOSCOW - Indonesia's inflation rate is poised to peak after rising quite substantially in June and July, Indonesian Finance Minister Chatib Basri said. 

``Inflation will peak in July,'' Mr Basri said in an interview in Moscow on Saturday, where he attended a meeting of the Group of 20 finance ministers and central bank governors. ``Price gains quickened after fuel costs rose and the rate may be back to normal in a couple of months,'' he said.

Mr Basri, who last month oversaw Indonesia's first price increase for subsidised fuel in five years as Southeast Asia's largest economy grapples to cut energy spending, said fuel consumption fell in June. Government efforts to open the local market to imports will help curb price gains, the minister said.

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