Indonesia Inflation May 2016


Inflation eases further in May

In May, consumer prices increased 0.24% over the previous month, which contrasted the 0.45% decrease recorded in April. May’s reading reflected increased prices for foodstuffs and clothing, as well as for transport, communication and financial services.

Inflation was 3.3% in May. The print was below the 3.6% recorded in April and marked the lowest reading since November 2009. The reading was in line with market analysts’ expectations. Meanwhile, annual average inflation fell from 5.6% in April to 5.2% in May. Core consumer prices, which exclude volatile items such as food and administered prices, increased 0.23% over the previous month (April: +0.15% month-on-month). Core inflation remained stable at 3.4% in May.

The Central Bank’s inflation target for 2016 is 3.0%–5.0%. FocusEconomics Consensus Forecast panelists expect that inflation will average 4.4% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see inflation averaging 4.8%.

Author:, Economist

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Indonesia Inflation Chart

Indonesia Inflation May 2016

Note: Annual and monthly variation of consumer price index in %.
Source: Statistics Indonesia (BPS) and FocusEconomics calculations.

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