USD/IDR Price News: Rupiah keeps lows near 14,275 on above-forecast Indonesian inflation

Dhwani Mehta FXStreet

Indonesia’s annual inflation rate kept moving north in December, according to the latest data published by Statistics Indonesia showed Monday.

Indonesian December’s inflation rate rose to 1.87% on the year when compared with November’s 1.75%, although remained way below the Bank Indonesia’s (BI) 2.5-4.5% target range.

The annualized core figure arrived at 1.56% vs. 1.44% previous and 1.51% expected.

USD/IDR reaction

At the time of writing, the spot adds 0.15% on the day to trade at 14,271. The pair showed little reaction to the inflation data, holding near-daily highs of 14,276.50.

About Indonesia’s CPI

The Inflation index released by Statistics Indonesia is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of the Indonesian Rupiah is dragged down by inflation. The CPI is used as a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the Rupiah, while a low reading is seen as negative (or Bearish).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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