Indonesia's March 2013 Inflation Rate Rises Mainly Due to Increased Food Prices
Today, Statistics Indonesia (Badan Pusat Statistik, abbreviated BPS) released Indonesia's inflation figures for the month March 2013. According to Suryamin, head of BPS, the country's inflation last month reached the level of 0.63 percent, the highest March inflation level in five years. Particularly food prices drove the inflation rate upwards. Year-on-year inflation now stands at 5.90 percent, while year-to-date inflation (January-March) is 2.41 percent.
Core inflation in March 2013 was up 0.13 percent or 4.21 percent (year-on-year), still within the target range of 4.5 percent (plus or minus one) of Indonesia's Central Bank.
The recent high prices of garlic and chili (brought on due to weak domestic harvests in combination with a lack of imports) made their impact. Other matters that influenced Indonesia's higher inflation rate were the gradual implementation of electricity tariffs (which will continue throughout 2013) as well as the 44 percent increase in minimum wages in Jakarta at the start of this year.
Indonesia's Inflation Rate (2002-2013)
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