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Today's Headlines Inflation

  • Consumer Price Index Indonesia: Deflation at 0.18% in September 2018

    Based on the latest data of Indonesia's Statistics Agency (BPS), Indonesia experienced deflation of 0.18 percent month-on-month (m/m) in September 2018, a figure that exceeded our expectations. Consequently, Indonesia's annual inflation slowed to a two-year low of 2.88 percent (y/y), down from 3.20 percent (y/y) in August 2018. Year to date, Indonesian inflation eased to 1.94 percent in the January-September 2018 period.

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  • Consumer Price Index Indonesia: 0.05% of Deflation in August 2018

    Indonesia's consumer price index experienced 0.05 percent deflation on a month-on-month (m/m) basis in August 2018, while we had actually expected to see modest inflation (considering imported inflation is bound to rise amid rupiah weakness). However, Suhariyanto, Head of Indonesia's Statistics Bureau (BPS), said Indonesia's consumer price index fell due to a drop in food prices, such as chicken meat and chillies.

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  • Consumer Price Index Indonesia: Inflation at 0.59% in June 2018

    Indonesian inflation was mild at 0.59 percent month-on-month (m/m) in June 2018, a month in which rising consumption amid the latter half of the Ramadan month and subsequent Eid al-Fitr celebrations gives rise to inflationary pressures in the world's largest Muslim-majority nation. On an annual basis, Indonesian inflation eased to 3.12 percent (y/y), down from 3.23 percent (y/y) in the preceding month.

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  • Consumer Price Index Indonesia: Inflation at 0.21% in May 2018

    Indonesian inflation was slightly below estimates at 0.21 percent month-on-month (m/m) in May 2018 because food price increases were modest amid the Islamic fasting month (Ramadan), a period when consumption (hence demand for food) tends to rise. Although the Muslim community fasts during daytime, in the morning and evening many food parties are organized and therefore, overall, consumption rises during Ramadan and the subsequent Eid al-Fitr celebrations.

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  • Sri Mulyani Indrawati Updates House on Indonesia's 2019 State Budget

    In a speech in front of the House of Representatives (DPR) Indonesian Finance Minister Sri Mulyani Indrawati said the government targets an economic growth rate in the range of 5.4 - 5.8 percent year-on-year (y/y) for 2019. She said this range is a realistic one. Moreover, growth should be inclusive and equal, meaning all people across the nation should see an increase in their welfare. The government will give special focus on the acceleration of growth in eastern Indonesia, border areas, the outermost areas and underdeveloped regions.

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  • Consumer Price Index Indonesia: Inflation at 0.10% in April 2018

    The pace of Indonesia's headline inflation was recorded at 0.10 percent month-on-month (m/m) in April 2018, a relatively high pace compared to April inflation in recent years. However, compared to the preceding month (when the consumer price index rose 0.20 percent m/m) Indonesian inflation eased. Meanwhile, on a year-on-year (y/y) basis inflation accelerated modestly to 3.41 percent (y/y) from 3.40 percent (y/y) in the preceding month. Calendar-year inflation accumulated to 1.09 percent in the first four months of 2018.

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  • ADB Puts GDP Growth Forecasts for Indonesia at 5.3% in 2018 & 2019

    The Asian Development Bank (ADB) stated in its Asian Development Outlook (ADO) report, which was released on Wednesday (11/04), that it expects the Indonesian economy to expand by 5.3 percent year-on-year (y/y) in 2018 and 2019 on the back of rising investment and an improvement in household consumption.

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  • Consumer Price Index Indonesia: Inflation at 0.20% in March 2018

    Indonesia's Statistics Agency (BPS) announced that the nation's headline inflation rose 0.20 percent month-to-month (m/m) in March 2018 especially due to a rise in prices of fuel and spices. Meanwhile, on a year-on-year (y/y) basis, Indonesia's inflation rate accelerated to 3.40 percent in the third month of the year, up from 3.18 percent (y/y) in the preceding month but still comfortably within the central bank's target range of 2.5 - 4.5 percent (y/y) for full-year 2018.

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  • Consumer Price Index Indonesia: Inflation at 0.17% in February 2018

    The Statistics Agency (BPS) announced that Indonesia's headline inflation reached 0.17 percent month-on-month (m/m) in February 2018. This is a lower inflation rate compared to February 2017 (+0.23 percent m/m), hence the country's annual headline inflation eased to 3.18 percent (y/y) in February 2018, from 3.25 percent (y/y) in the preceding month.

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Latest Columns Inflation

  • Economic Growth of Indonesia in Quarter I-2014 Projected at 5.75%

    Indonesia's gross domestic product (GDP) growth is expected to move sideways in the first quarter of 2014. Finance Minister Chatib Basri forecasts a growth rate of between 5.7 and 5.8 percent, similar to the growth pace that was recorded in the fourth quarter of 2013 (5.78 percent). Based on data from Statistics Indonesia (BPS), economic growth in Indonesia has slowed since the second quarter of 2013. In Q2-2013, Indonesia's GDP expanded by 5.89 percent, thereby ending a ten-quarter streak of +6 percentage growth.

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  • Central Bank of Indonesia Expected to Keep its Key Interest Rate at 7.50%

    Indonesia's benchmark interest rate (BI rate) is expected to be maintained at 7.50 percent at Bank Indonesia's Board of Governor's Meeting on Tuesday 8 April 2014. Despite Indonesia's moderating inflation rate (7.32 percent year on year in March 2014) and the February 2014 trade surplus of USD $785 million, the BI rate may be left unchanged in order to support the further easing of Indonesia's current account deficit and to offset the impact of the possible US interest rate hikes in 2015 and 2016.

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  • Bank Indonesia Press Release: March Inflation and February Trade Balance

    The rate of inflation in March 2014 demonstrated that the ongoing downward trend persists. In the reporting month of March 2014, inflation was recorded at 0.08 percent (month-to-month) or 7.32 percent (year-on-year), down from the rates recorded in the previous two months at 1.07 percent (mtm) or 8.22 percent (yoy) in January and 0.26 percent (mtm) or 7.75 percent (yoy) in February. The declining inflation trend is further evidenced by a lower rate recorded in March 2014 than the historical average over the past six years at 0.24 percent (mtm).

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  • Indonesian Rupiah and IHSG Strengthen on Yellen and Domestic Data

    At 15:00 local Jakarta time on Tuesday (01/04), the Indonesian rupiah exchange rate as well as the country's benchmark stock index (known as the IHSG or Jakarta Composite Index) have shown a positive performance so far. Based on the Bloomberg Dollar Index, the rupiah appreciated 0.64 percent to IDR 11,288 per US dollar, while the IHSG climbed 2.15 percent to 4,871.38. A number of internal and external factors contributed to this remarkable performance today.

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  • A Strong End of the Week for the Indonesian Rupiah Exchange Rate

    By the end of Friday's trading day (28/03), the Indonesian rupiah exchange rate appreciated 0.75 percent to IDR 11,361 per US dollar based on the Bloomberg Dollar Index. At the end of March 2014, the rupiah is still the best-performing Asian currency this year, outperforming 24 emerging-market currencies that are tracked by Bloomberg. Since 31 December 2013, the rupiah appreciated nearly seven percent against the US dollar as an easing current account deficit and slowing inflation triggered capital inflows into Southeast Asia's largest economy.

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  • Rupiah Falls on Fed Policy; Market Waiting for Indonesia's Economic Data

    The Indonesian rupiah exchange rate depreciated 0.31 percent to IDR 11,447 per US dollar on Thursday (27/03) based on the Bloomberg Dollar Index. The currency's strong performance in February and the first half of March, supported by Indonesia's easing current account deficit and inflation, has met resistance due to global concern about the aggressive US Federal Reserve monetary tightening (winding down its quantitative easing program by another chunk of USD $10 billion as well as possible US interest rate hikes in 2015 and 2016).

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  • Fitch Ratings Survey Shows Optimistic View on Indonesian Economy

    Fitch Ratings, one of the three major global credit rating agencies, said that its latest annual survey on economic prospects and the business climate in Indonesia indicates an optimistic view. Respondents in the survey, mostly CEOs and Division Heads at financial institutions, companies, government and media, were asked 11 questions about the Indonesian economy, reformation and prospects for the next five years. Andrew Steel, Managing Director Head of Asia Pacific Corporate Ratings Group, presented results of the survey.

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  • World Bank: March 2014 Indonesia Economic Quarterly Investment in Flux

    Today (18/03), the World Bank released the March 2014 edition of its Indonesia Economic Quarterly (IEQ), titled Investment in Flux. The report discusses key developments over the past three months in Indonesia’s economy, and places these developments in a longer-term and global context. Secondly, it provides a more in-depth examination of selected economic and policy issues, as well as analysis of Indonesia’s medium-term development challenges. Click here for further information about the World Bank and its activities in Indonesia.

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  • Analysis of Indonesia's Current Account Deficit: the Structural Oil Problem

    Fitch Ratings, one of the three major global credit rating agencies, estimates that Indonesia's current account deficit will reach USD $27.4 billion, equivalent to 3.1 percent of the country's gross domestic product (GDP) in 2014. As such, Fitch Ratings' forecast is more pessimistic than forecasts presented by both Indonesia's central bank (Bank Indonesia) and government. Both these institutions expect to curb the current account deficit below the three percent of GDP mark (a sustainable level). Global investors continue to carefully monitor the deficit.

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  • Indonesian Rupiah Exchange Rate's New Equilibrium at IDR 11,000?

    Coordinating Minister for Economic Affairs Hatta Rajasa said that the rupiah exchange rate's new equilibrium is at IDR 11,000 per US dollar. As the economic fundamentals of Indonesia's economy have improved in recent months - evidenced by the easing current account deficit and inflation - the rupiah has shown a strong performance, appreciating around six percent against the US dollar in 2014 (year to date). In fact, Rajasa warned that the rupiah should not strengthen too much as this impacts negatively on Indonesia's trade balance.

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