Indonesia Inflation December 2015


Indonesia: Inflation falls in December to lowest level in six years

January 4, 2016

Consumer prices increased 0.96% in December over the previous month, which was much stronger than the 0.21% rise tallied in November. December’s reading, the highest tallied all year, was mainly driven by higher prices for foodstuffs.

Inflation slumped from 4.9% in November to 3.4% in December, which marked the lowest reading in six years. The reading was below market expectations of 4.0%. Annual average inflation fell from 6.8% to 6.4%. Meanwhile, the core consumer prices, which excludes volatile items such as food and administered prices, increased 0.23% over the previous month (November: +0.16% month-on-month). Annual core inflation decreased from 4.8% to 4.0%, which marked the lowest figure in over two years.

The Central Bank’s inflation target for 2016 is 3.0%–5.0%. FocusEconomics Consensus Forecast panelists expect that inflation will average 5.1% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see inflation averaging 4.9%, which is also unchanged from last month’s estimate.

Author:, Economist

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Indonesia Inflation Chart

Indonesia Inflation December 2015

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

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