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Indonesia: Consumer Price Index Indonesia Update: 3.45% y/y Inflation in June
Indonesia: Consumer Price Index Indonesia Update: 3.45% y/y Inflation in June
Fri, 01 July 2016 – Inflation in Indonesia accelerated slightly more than expected last month. According to the latest data from Statistics Indonesia (BPS), inflation reached 3.45 percent (y/y) in June 2016, up from 3.33 percent (y/y) in the preceding month. Initially, Indonesia’s monthly inflation pace in June was forecast above 1 percent. However, over the past week estimates were cut to around 0.55 percent (m/m) as food prices were largely under control (even though prices of some staple foods – such as chicken meat and eggs – were still rising).
One of the two peaks of inflation in Indonesia traditionally occurs in the June-August period due to the impact of rising consumption amid the holy Islamic Ramadan month, Idul Fitri celebrations and the new school year (the other inflation peak occurs in December-January due to rising consumption amid Christmas and New Year celebrations). Read More?