- Indonesia inflation increased to 2.75% YoY in (0.37% MoM) in Feb-24, largely driven by rising rice prices.
- Food prices is expected to increase further in the near-term due to the heightened demand during Ramadan/Lebaran and the potential delay in the harvest season.
- Core inflation posted a limited gain, but will likely increase further in the near-term.
- BI will likely refrain from cutting interest rates until the latter half of the year, when the Fed begins to ease its policy rate.
