May 26 Reuters From export bans to price controls, governments in Asia are taking a much more targeted approach than their Western counterparts in curbing global inflationary pressure, a strategy that appears to be working at least for now.

While inflation remains a serious economic challenge in Asia, the measures have in many countries helped shield the public from some of the price rises and meant most central banks in the region have not had to raise interest rates as quickly as they have elsewhere.

The various efforts have also shifted some of the cost burdens away from consumers and small businesses largely to government balance sheets.

We have not seen any weakening in purchasing power, said Baskoro Santoso, investor relations officer at Indonesian snack maker Mayora Indah.

The company has adjusted prices since the second half of last year but has not seen a material hit to business, especially during the Ramadan festive period, he said.

Indonesia, a country with a history of financial volatility and price swings, last week hiked energy subsidies by 24 billion to contain energy costs, having only just lifted a controversial export ban on palm oil.

Although many retailers in Southeast Asia39;s largest economy have still had to pass on price hikes, household demand remains strong and inflation is within the central bank39;s 24 target band.

In South Korea, government caps on electricity bills provide a competitive edge for global manufacturers like Samsung…