Indonesia's inflation surges to 6.79 percent in April
(MENAFN) Official data showed that Indonesia's inflation accelerated to 6.79 percent in April driven by higher fuel costs after global oil prices rebounded, The Peninsula Qatar reported.
At the start of the year, Southeast Asia's biggest economy almost completely abolished a decades-old fuel subsidy regime, which had proven to be extremely costly, and let prices float with the market.
However, global oil prices rebounded by about 20 percent in April owing to several factors, including concerns about unrest in Yemen, the weakening dollar and fewer US rigs in operation.
At the start of the year, Southeast Asia's biggest economy almost completely abolished a decades-old fuel subsidy regime, which had proven to be extremely costly, and let prices float with the market.
However, global oil prices rebounded by about 20 percent in April owing to several factors, including concerns about unrest in Yemen, the weakening dollar and fewer US rigs in operation.
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