High commodity prices help Indonesia manage inflation, global discord

Record prices for coal and key minerals provide just enough for Indonesia to fight inflation, said Indonesian Finance Minister Sri Mulyani Indrawati. PHOTO: AFP
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DENPASAR (Bali) - Spiralling consumer prices and deteriorating relations between the world's biggest economies caused by Russia's invasion of Ukraine may slow Indonesia's recovery and undo decades of globalisation that made the country a "clear winner", according to Indonesian Finance Minister Sri Mulyani Indrawati.

Record prices for coal and key minerals, including nickel, offer just enough of a fillip to the country's coffers for now, providing Indonesia with the resources it needs to combat inflation through limited subsidies and aid to the poor, she added.

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