Indonesia: Inflation inches up in November
December 2, 2013
Consumer prices rose 0.12% over the previous month in November, following the 0.09% increase tallied in October. November's increase reflects that higher prices for housing, water, electricity and gas, as well as for healthcare, more than offset lower prices for foodstuffs.
Annual inflation inched up from 8.3% in October to 8.4% in November. Annual average inflation rose from 6.3% in October to 6.6% in November. Meanwhile, the core inflation index, which excludes volatile items such as food and administered prices, increased 0.20% over the previous month (October: 0.34% month-on-month). Annual core inflation inched up from 4.7% in October to 4.8% in November.
The Central Bank has an inflation target of 9.0%-9.8% for 2013 and 3.5%-5.5% for 2014. FocusEconomics Consensus Forecast panelists expect that inflation will average 7.3% in 2013, which is unchanged from last month's forecast. For 2014, panelists see inflation falling to 6.3%, which is down 0.2 percentage points from last month's projection.
Author: Carl Kelly, Economist