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Indonesia Inflation January 2023

Indonesia: Inflation decelerates in January

Inflation came in at 5.3% in January, down from Decembers 5.5%. January’s result was the lowest reading since August 2022 and was mainly driven by softer price pressures for housing and transport.

Annual average inflation moderated to 4.0% in January (December: 4.2%). Meanwhile, core inflation inched down to 3.3% in January from 3.3% in December.

Lastly, consumer prices increased 0.34% in January over the previous month, following the 0.66% rise logged in the month prior.

Commenting on the outlook, Enrico Tanuwidjaja, economist at UOB, stated:

“We continue to expect price gains to remain elevated in the months ahead amidst demand recovery and relatively higher transportation prices and ahead of the Eidal-Fitr festivities in April.”

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