Indonesia Inflation December 2017

Indonesia

Indonesia: Inflation rises in December

January 4, 2018

In December, consumer prices increased 0.71% compared to the previous month, which was above November’s 0.20% increase. Higher prices for foodstuffs largely drove the acceleration. In addition, robust consumer demand during the holiday season likely contributed to higher price pressures in December.

Inflation edged up from November’s 3.3% to 3.6% in December. In 2017, inflation averaged 3.8%, slightly above 2016’s 3.5%. The result was within the Central Bank’s target range for 2017 of 4.0% plus/minus 1.0 percentage points.

Meanwhile, core consumer prices, which exclude volatile items such as food and administered prices, rose 0.13% month-on-month in December, matching November’s result. Core inflation inched down from November’s 3.1% to 3.0%.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.8% in 2018, which is down 0.1 percentage points from last month’s forecast. For 2019, panelists also see inflation averaging 4.1%.


Author: Angela Bouzanis, Senior Economist

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Indonesia Inflation Chart


Indonesia Inflation December 2017

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


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