Indonesia: Inflation picks up in October
November 1, 2018
Consumer prices increased 0.28% in October from the previous month, contrasting September’s 0.18% fall. October’s print reflected higher prices for food; clothing; and housing, water and energy.
Inflation increased from 2.9% in September to 3.2% in October, beating market expectations but remaining within Bank Indonesia’s target range of 3.5% plus or minus 1.0 percentage point, while core inflation ticked up from 2.8% in September to 2.9% in October. Higher price pressures were likely aided by the marked depreciation of the rupiah since the start of the year.
Author: Oliver Reynolds, Economist