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MACROECONOMICS

Inflation stays put at 0.01% in October

Wednesday, 01 November 2017 | Wahyu Tri Rahmawati

KONTAN.CO.ID - JAKARTA. Indonesia's inflation rate hovered at 0.01 percent in October, lower than 0.13 percent recorded in the previous month.

On that basis, the inflation rate stands at 2.67 percent so far this year and 3.58 percent year-on-year (yoy), the Central Statistics Agency (BPS) announced on Wednesday.

Core inflation was recorded at 0.17 percent, while administered and volatile food prices booked deflations of -0.01 and -0.53 percent, respectively.

"Many commodities saw their prices decrease in October and caused to the deflation," BPS head Suhariyanto told a press briefing on Wednesday.

"Commodities that contributed to deflation included chicken meat, onions, garlic, fresh fish and several vegetables like potatoes, bird-eye chilies and tomatoes."

Meanwhile, rising prices of red chilies and rice also chipped in on the inflation rate.

The average price of rice at the retail level increased by 0.99 percent month-on-month (mom) in October, while the prices at wholesale level hiked up by 0.61 percent mom.

Suhariyanto expressed hope that inflation would stay benign until year-end when the rate usually hikes due to the holiday season.

The government and Bank Indonesia (BI) expect the country's inflation rate to hover at below 4 percent versus 4.3 percent stated in the revised state budget.

Source : The Jakarta Post

Reporter: Wahyu Tri Rahmawati
Editor: Wahyu Rahmawati
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