JAKARTA. The Central Statistics Agency (BPS) has recorded an inflation rate of 0,69% month-on-month (mom) for July, slightly below Bank Indonesia’s (BI) forecast of 0,74%. It is the lowest July inflation rate in the last five years, the agency said in its latest report.
Indonesia recorded a 0,7% inflation rate in July 2012, followed by 3,29% in 2013, 0,93% in 2014 and 0,93% in 2015.
BPS head Suryamin explained that the month's inflation was driven by inflationary pressures on staple food prices and transportation costs due to Idul Fitri festivities.
He said transportation costs recorded the highest inflation rate, standing at 1,22%, in which land transportation and air transportation were the biggest contributors.
"Idul Fitri fell on July 6. There has been impacts from the Idul Fitri exodus," Suryamin said in Jakarta on Monday.
However, he said, if compared with the same period last year, transportation costs decreased by 1,49% in July.
According to the BPS, staple food prices recorded the second-highest inflation rate in July, standing at 1,12% mom. Food prices grew by 6,81% from the same period last year (yoy).
Processed food, beverages and cigarette and tobacco prices grew by 0,54% mom and 6,19% yoy. The inflation rate of housing, water, electricity, gas and fuel stood at 0,24% mom and 1,29%. (Ayomi Amindoni)
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