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Inflation

Indonesia inflation rate hit 7-year high of 5.95% in September

Increase exceeded central bank's target of 2% to 4% as oil prices surge

A worker at a state-owned Pertamina gas station in Bekasi, on the outskirts of Jakarta, updates the price display on Sept. 3 following the announcement of a fuel price hike.   © Reuters

JAKARTA -- Indonesia's inflation rate in September took its biggest leap in nearly seven years amid increasing oil prices in the wake of the Ukraine war.

The consumer price index rose 5.95% in September, up from August's 4.69%. The inflation rate remained higher than Bank Indonesia's target range of 2% to 4% this year.

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