Update COVID-19 in Indonesia: 497,668 confirmed infections, 15,884 deaths (23 November 2020)
23 November 2020 (closed)
USD/IDR (14,164) -14.00 -0.10%
EUR/IDR (17,105) +156.06 +0.92%
Jakarta Composite Index (5,652.76) +81.11 +1.46%
Indonesia’s inflation rate was unusually mild in May 2020. According to the latest data from Statistics Indonesia (BPS), the country’s consumer price index (CPI) stood at 0.07 percent month-on-month (m/m) only.
However, it was no surprise. The self-imposed social and business restrictions curb household consumption in a way we have not seen before. And interestingly enough, these restrictions come at a time when household consumption typically peaks: the Ramadan and Idul Fitri celebrations. Hence, based on local news reports, the 0.07 percent (m/m) inflation rate in May 2020 was the nation’s lowest inflation rate amid these Islamic celebrations since 1978.
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