Lower Foodstuffs and Clothes Prices; Indonesia's October Inflation 0.09%
Inflation in October 2013 was recorded at 0.09%. This low inflation rate was mainly supported by easing food and clothes prices. The foodstuffs component in the basket recorded deflation of 0.34 percent, while clothes posted deflation of 0.56 percent. These details were presented by Suryamin, Head of Statistics Indonesia (BPS) on Friday (01/11). The 0.09 percent October inflation rate is low compared to past results in the same month with the notable exception of October 2011 when 0.12 percent of deflation was recorded.
Year-on-year, Indonesia's inflation eased slightly to 8.32 percent from 8.40 percent in September 2013. Year to date, inflation now stands at 7.66 percent after the first ten months of 2013.
Indonesia's Central Bank (Bank Indonesia) expects inflation to reach between 9.0 and 9.8 percent by the end of 2013, far above its initial target of 4.5 percent. Inflation accelerated after the government decided to increase prices of subsidized fuels in June 2013.
(annual percent change)
¹ Year to date (January-October 2013)
Source: Statistics Indonesia
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