Indonesia Sept inflation picks up to 3.07 percent year-on-year

October 3, 2016 12:36 AM EDT

A vegetable vendor (R) takes money from customer at a morning market in Jakarta, Indonesia, October 3, 2016. REUTERS/Beawiharta


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JAKARTA (Reuters) - Indonesia's annual inflation rate in September rose slightly from the pace in August, but remained close to near seven-year lows, data from the statistics bureau showed on Monday.

The consumer price index (CPI) in September rose 3.07 percent from a year earlier, the bureau said, compared with August's 2.79 percent rate. A Reuters poll had expected annual inflation at 3.04 percent.

Consumer prices increased 0.22 percent on a monthly basis.

The annual core inflation rate, which strips out administered and volatile food prices, was 3.21 percent in September, roughly in line with analysts' expectations and lower than the 3.32 percent recorded in August.

Indonesia's central bank targets annual inflation of 3-5 percent in 2016.

Low inflation was one factor which allowed Bank Indonesia to cut its benchmark rate for the fifth time this year on Sept. 22 to support economic growth. [nL3N1BX3D9]

Below are details of inflation in September:

y/y previous m/m previous

CPI +3.07 +2.79 +0.22 -0.02

Core +3.21 +3.32

Reuters forecasts

CPI y/y +3.04

CPI m/m +0.18

Core y/y +3.23

Bank Indonesia 2015 3-5

target

(Reporting by Hidayat Setiaji; Writing by Gayatri Suroyo; Editing by Kim Coghill)



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