Martowardojo: Indonesian Inflation Limited in November 2013
Agus Martowardojo, Governor of Bank Indonesia, expects Indonesia's November inflation rate to be modest at 0.05 to 0.1 percent (month-to-month). If Martowardojo's expection will be met then it means that inflation in Southeast Asia's largest economy is under control as November would be the third consecutive month of low inflation (or deflation). Inflation had accelerated significantly since June 2013 after the government raised prices of subsidized fuels and might reach 9 percent (yoy) by the end of 2013.
In October 2013, Indonesian inflation was still high at 8.32 percent (yoy), but showing a moderating trend from 8.40 percent (yoy) in September 2013 and 8.79 percent (yoy) in August 2013. Martowardojo said there is still a chance that the November inflation outcome will rise due to imported inflation through food products imports.
Statistics Indonesia will release Indonesia's official November 2013 inflation figure on Monday 2 December.
(annual percent change)
¹ Year to date (January-October 2013)
Source: Statistics Indonesia
• Inflation in Indonesia
• Analysis of Indonesia's October Inflation and September Trade Deficit