Indonesia inflation inches up in August, holds below central bank target

FILE PHOTO: People wearing protective face masks shopping in Tanah Abang textile market ahead of Eid al-Fitr festival amid the coronavirus disease (COVID-19) outbreak in Jakarta, Indonesia, May 3, 2021. REUTERS/Ajeng Dinar Ulfiana

JAKARTA (Reuters) - Indonesia's annual inflation rate edged up in August to 1.59%, the highest in three months, still holding below the central bank's target range, data from the country's statistics bureau showed on Wednesday.

A Reuters poll had expected an August rate of 1.60%. Indonesia's inflation rate has been below the central bank's 2% to 4% target range since mid-2020. Inflation in July was 1.52%.

The August annual core inflation rate, which excludes government-controlled and volatile prices, eased to 1.31%, roughly in line with expectations in the poll, from 1.40% in July.