Indonesia Inflation May 2022

Indonesia

Indonesia: Inflation comes in at highest level since December 2017 in May

June 2, 2022

Consumer prices rose 0.40% in May over the previous month, coming in below April's 0.95% increase. May's result marked the weakest reading since February. The moderation was broad-based, with lower price pressures recorded for clothing and footwear, housing, water, electricity and household fuels, and transport.

In contrast, inflation came in at 3.6% in May, up from April’s 3.5%. May's figure marked the highest inflation rate since December 2017. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 2.1% in May (April: 1.9%). Lastly, core inflation was stable, coming in at April's 2.6% in May.

FocusEconomics panelists project inflation of 3.7% in 2022, which is up 0.2 percentage points from last month’s forecast. In 2023, inflation is seen averaging 3.4%.


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