Indonesia Inflation August 2019

Indonesia

Indonesia: Inflation picks up in August, hits midpoint of Central Bank's target range

September 2, 2019

Consumer prices increased 0.12% over the prior month in August, down from July’s 0.31% uptick. August’s rise was driven by higher prices for clothing, and education, recreation and sport, but was dampened somewhat by lower food and transport prices.

Inflation ticked up from 3.3% in July to 3.5% in August, reaching the midpoint of Bank Indonesia’s target range of 3.5% plus or minus 1.0 percentage point, while core inflation increased from 3.2% to 3.3%. Contained inflation—in part due to low oil prices and ebbing domestic momentum—should support Bank Indonesia’s more accommodative stance, and potentially allow for further rate cuts going forward.

FocusEconomics Consensus Forecast panelists project inflation to average 3.2% in 2019 and 3.6% in 2020.


Author:, Economist

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Indonesia Inflation Chart


Indonesia Inflation August 2019

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


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