Indonesia Inflation

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Indonesia: Inflation jumps back up in September

October 1, 2014

Consumer prices increased 0.27% over the previous month in September, which was below 0.47% increase tallied in August. September’s modest increase was mainly driven by higher prices for housing and utilities as well as for education due to the new school year. In contrast, prices for transport and communication, foodstuffs, and clothing decreased over the previous month.

Annual inflation increased from 4.0% in August to 4.5% in September. The reading was roughly in line with market expectations and represented the highest reading in three months. Annual average inflation decreased from 7.1% in August to 6.8% in September. Meanwhile, the core inflation index, which excludes volatile items such as food and administered prices, increased 0.29% over the previous month (August: +0.46% month-on-month). Annual core inflation dropped from 4.5% in August to 3.6% in September.

The Central Bank’s inflation target for 2014 is 3.5%–5.5% and 3.0%–5.0% for 2015. FocusEconomics Consensus Forecast panelists expect that inflation will average 6.1% in 2014, which is unchanged from last month’s forecast. For 2015, panelists see inflation easing to 5.5%.


Author:, Economist

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Indonesia Inflation Chart


Indonesia Inflation September 2014

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


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