Indonesia Inflation October 2016


Indonesia: Inflation rises in October

November 1, 2016

In October, consumer prices increased 0.14% from the previous month, which followed the 0.22% rise recorded in September. According to Statistics Indonesia, the highest price pressures came from housing, water, electricity and gas as well as for prepared food, beverages, cigarettes and tobacco.

Inflation rose from 3.1% in September to 3.3% in October, which met market analysts’ expectations. Annual average inflation fell from 3.9% in September to 3.7%, a multi-year low. Core consumer prices, which exclude volatile items such as food and administered prices, increased 0.10% over the previous month (September: +0.33% month-on-month). Core inflation eased from September’s 3.2% to 3.1% in October.

The Central Bank’s inflation target for 2016 is 3.0%–5.0%. FocusEconomics Consensus Forecast panelists expect that inflation will average 3.8% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, panelists see inflation averaging 4.3%, which is down 0.2 percentage points from last month’s estimate.

Author: Angela Bouzanis, Senior Economist

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Indonesia Inflation Chart

Indonesia Inflation October 2016

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

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