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Indonesia Inflation January 2022

Indonesia: Inflation increases to an over one-year high in January

Consumer prices increased 0.56% in January over the previous month, broadly unchanged from December’s 0.57% rise.

Inflation rose to 2.2% in January from December’s 1.9%. January’s figure marked the highest inflation rate since May 2020. Annual average inflation remained at December’s 1.6% in January. Finally, core inflation ticked up to 1.8% in January, from December’s 1.6%.

Commenting on the outlook, Nicolas Mapa, senior economist at ING, commented:

“This year, we predict inflation to accelerate to a point where monetary authorities may need to consider a pronounced shift in stance, sooner rather than later.  Mounting pressure on IDR in anticipation of the projected Fed rate hike will only heighten price pressures in the coming months, driving up inflation further.”

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