Indonesia Inflation February 2017


Indonesia: Inflation rises to 10-month high in February

March 1, 2017

In February, consumer prices rose 0.23% compared to the previous month, which was below January’s 0.97% increase. According to Statistics Indonesia, the largest increase in prices was recorded for housing, water, electricity, gas and fuel while food prices fell.

Inflation climbed from 3.5% in January to 3.8% in February, surpassing market expectations by 0.4 percentage points. February’s result was the highest inflation reading since March 2016. Annual average inflation inched down from 3.5% in January to 3.4%. Meanwhile, core consumer prices, which exclude volatile items such as food and administered prices, rose 0.37% month-on-month in February (January: +0.56% mom). Core inflation was stable at January’s 3.4%.

The Central Bank’s inflation target for 2017 is 3.0%–5.0%. FocusEconomics Consensus Forecast panelists expect inflation to average 4.2% in 2017, which is unchanged from last month’s forecast. For 2018, panelists see inflation averaging 4.4%.

Author: Angela Bouzanis, Lead Economist

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Indonesia Inflation Chart

Indonesia Inflation February 2017

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

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