Indonesia's consumer price index fell for the first time in more than two decades in February, official data showed on Monday, after the government gave a substantial discount on electricity bills to support economic growth.

Indonesia recorded its first annual deflation in more than two decades as electricity tariffs and prices of some staple foods fell, potentially giving room for the central bank to weigh a rate cut if the rupiah stabilizes.

Indonesias consumer price index (CPI) dropped 0.09% year-on-year in February, marking the first annual deflation since March 2000. The decline, well below market expectations of 0.60% inflation, follows a