As expected, inflationary pressures increased on a month-on-month (m/m) basis in September 2023. However, on a year-on-year (y/y) basis, Indonesian inflation eased quite significantly as the impact of the subsidized fuel price hike in September 2022 is now removed from the data. Based on the data from Indonesia’s Statistical Office (BPS), Indonesia’s headline inflation decelerated to a rate of 2.28 percent (y/y).

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On 2 October 2023 Indonesian President Joko Widodo was present at the launch of the first ever bullet train (high-speed rail) in Southeast Asia. With the help of China (the project being part of China's Belt and Road infrastructure initiative), passengers can now travel from Indonesia’s capital city of Jakarta to tourism/arts hub Bandung in West Java (or the other way round) in around 45 minutes only.

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Indonesia posted a strong USD $3.12 billion trade surplus in August 2023. It is the 40th consecutive month of trade surpluses for Southeast Asia’s biggest economy, an indication that global commodity prices (particularly coal and palm oil, which are the key non-oil and gas export items of Indonesia) remain at lucrative levels.

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On 8 October 2023 Indonesia Investments released the September 2023 edition of its monthly report. The report discusses a number of key economic, political and social developments that were felt by Indonesia in the month of September 2023.

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