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Indonesia: BPS records deflation in February
Indonesia recorded the year’s first deflation of 0.08 percent in February, compared to the 0.32 percent inflation it recorded in January, Statistics Indonesia (BPS) announced on Friday.
The figure brings year-to-date (ytd) and year-on-year (yoy) inflation rates to 0.24 percent and 2.57 percent, respectively.
Bloomberg reported that Indonesia’s yoy inflation rate was the lowest since November 2009, and lower than the 2.75 percent median estimate from its survey of 24 economists.
February’s 2.57 percent yoy inflation rate is well within Bank indonesia’s (BI) targeted annual inflation range of 2.5 percent to 4.5 percent.
BPS said the February deflation was driven primarily by a 1.11 percent price decrease in several food commodities.
Transportation, communication and financial services recorded 0.05 percent inflation in February, driven by airfare price hikes, said Yunita Rusanti, BPS deputy head of statistics distribution and services.
On the other hand, she said, the prices of non-subsidized fuels like Pertamax and Pertamax Turbo decreased in February, contributing to the deflation.
February also recorded 1.3 percent deflation in volatile food commodities, as well as a core inflation rate of 0.06 percent and 0.26 percent inflation in overall administered prices.
Source: https://www.thejakartapost.com/news/2019/03/01/bps-records-deflation-in-february-1551425014.html