Consumer Price Index Indonesia: Inflation at 0.10% in April 2018
The pace of Indonesia's headline inflation was recorded at 0.10 percent month-on-month (m/m) in April 2018, a relatively high pace compared to April inflation in recent years. However, compared to the preceding month (when the consumer price index rose 0.20 percent m/m) Indonesian inflation eased. Meanwhile, on a year-on-year (y/y) basis inflation accelerated modestly to 3.41 percent (y/y) from 3.40 percent (y/y) in the preceding month. Calendar-year inflation accumulated to 1.09 percent in the first four months of 2018.
Traditionally, Indonesian inflation is low or negative (meaning deflation) in April as the great harvest occurs in this month, hence resulting in easing food prices.
BPS Head Suhariyanto said all expenditure groups experienced inflation in April with the notable exception of foodstuffs. Easing foodstuff prices stem from easing rice prices after the government had earlier imported rice from abroad. Also falling prices of fresh fish and red chili contributed to deflating foodstuff prices.
• Foodstuffs; [deflation] -0.26 percent (m/m)
• Processed food, beverages, cigarette and tobacco; +0.24 percent (m/m)
• Housing, water, electricity, gas and fuel; +0.16 percent (m/m)
• Clothing; +0.29 percent (m/m)
• Health; +0.22 percent (m/m)
• Education, recreation and sports; +0.04 percent (m/m)
• Transportation, communication and financial services; +0.19 percent (m/m).
While most above-mentioned components experienced easing inflationary pressures (and foodstuffs deflated), the Housing, Water, Electricity, Gas and Fuel component experienced accelerated inflation from 0.06 percent (m/m) in March 2018 to 0.16 percent (m/m) in April 2018. It is assumed these rising pressures stem from higher international crude oil prices. In late March the price of (non-subsidized) Pertalite fuel was raised as a result of rising crude oil.
Read also: Analysis of Inflation in Indonesia
Indonesia's core inflation - which excludes volatile food and energy prices - rose 0.15 percent (m/m) in April 2018, hence accelerating to 2.69 percent on an annual basis.
Inflation in Indonesia:
| Month | M/M Growth 2018 |
| January | 0.62% |
| February | 0.17% |
| March | 0.20% |
| April | 0.10% |
| Year-to-Date | 1.09% |
Headline Consumer Price Index of Indonesia:
| Month | M/M Growth 2013 |
M/M Growth 2014 |
M/M Growth 2015 |
M/M Growth 2016 |
M/M Growth 2017 |
| January | 1.03% | 1.07% | -0.24% | 0.51% | 0.97% |
| February | 0.75% | 0.26% | -0.36% | -0.09% | 0.23% |
| March | 0.63% | 0.08% | 0.17% | 0.19% | -0.02% |
| April | -0.10% | -0.02% | 0.36% | -0.45% | 0.09% |
| May | -0.03% | 0.16% | 0.50% | 0.24% | 0.39% |
| June | 1.03% | 0.43% | 0.54% | 0.66% | 0.69% |
| July | 3.29% | 0.93% | 0.93% | 0.69% | 0.22% |
| August | 1.12% | 0.47% | 0.39% | -0.02% | -0.07% |
| September | -0.35% | 0.27% | -0.05% | 0.22% | 0.13% |
| October | 0.09% | 0.47% | -0.08% | 0.14% | 0.01% |
| November | 0.12% | 1.50% | 0.21% | 0.47% | 0.20% |
| December | 0.55% | 2.46% | 0.96% | 0.42% | 0.71% |
| Total | 8.38% | 8.36% | 3.35% | 3.02% | 3.61% |
Source: Statistics Indonesia (BPS)
Inflation in Indonesia and Central Bank (BI) Target:
| 2014 | 2015 | 2016 | 2017 | 2018 | |
| Inflation (annual % change) |
8.4 | 3.4 | 3.0 | 3.6 | |
| BI Target (annual % change) |
4.5 | 4.0 | 4.0 | 4.0 | 3.5 |
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |
| Inflation (annual % change) |
9.8 | 4.8 | 5.1 | 5.4 | 4.3 | 8.4 |
| BI Target (annual % change) |
5.0 | 4.5 | 5.0 | 5.0 | 4.5 | 4.5 |
Source: Bank Indonesia
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