Indonesia Inflation March 2016


Indonesia: Inflation steady in March

April 1, 2016

In March, consumer prices rose 0.19% over the previous month, contrasting the 0.09% drop recorded in February. March’s reading came on the back of higher prices for foodstuffs, as well as for prepared food, beverages and tobacco.

Inflation came in at 4.4% in March, which was in line with February’s result and marked the highest reading since November 2015. The reading was broadly in line with market expectations. Meanwhile, annual average inflation slowed from 6.0% in February to 5.8% in March. Core consumer prices, which excludes volatile items such as food and administered prices, increased 0.21% over the previous month (February: +0.31% month-on-month). While core inflation inched down from 3.6% in February to 3.5% in March, which marked the lowest figure in over five years.

The Central Bank’s inflation target for 2016 is 3.0%–5.0%. FocusEconomics Consensus Forecast panelists expect that inflation will average 4.5% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists see inflation averaging 4.8%.

Author: Angela Bouzanis, Senior Economist

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Indonesia Inflation Chart

Indonesia Inflation March 2016

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

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