Indonesia Inflation September 2020

Indonesia

Indonesia: Inflation rises in September, but remains muted

October 1, 2020

Consumer prices dropped a seasonally-adjusted 0.05% in September over the previous month, matching August's reading and driven chiefly by lower food prices.

Inflation increased to 1.4% in September, above August’s 1.3% but still substantially below Bank Indonesia’s 2.0%–4.0% target range, amid tepid demand. Annual average inflation ticked down to 2.3% in September (August: 2.5%). Core inflation registered 1.9%.

Inflation is seen returning to the lower part of the target range in Q4 and rising further in 2021 as demand and energy prices recover.

FocusEconomics panelists project inflation of 2.3% in 2020, unchanged from last month’s forecast. In 2021, inflation is seen averaging 2.8%, down 0.1 percentage points from last month’s projections.


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Indonesia Inflation September 20 20

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


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