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Indonesia: Economic Update Indonesia: July Inflation & Manufacturing Activity
Indonesia: Economic Update Indonesia: July Inflation & Manufacturing Activity
Mon, 01 August 2016 – Statistics Indonesia (BPS) announced on Monday (01/08) that Indonesia’s inflation rate reached 0.69 percent (m/m) in July 2016, considerably below analysts’ forecasts. In fact, the 0.69 percent (m/m) pace is Indonesia’s lowest July inflation rate since 2012. On a year-on-year basis, Indonesian inflation eased to a seasonally adjusted 3.21 percent (y/y), from 3.45 percent (y/y) in the preceding month. Meanwhile, Indonesia’s manufacturing activity plunged unexpectedly in July.
BPS Chief Suryamin informed reporters that inflation in July 2016 was primarily caused by higher prices of staple food items and higher transportation costs (especially land and air transportation) due to a large increase in travelers amid the Idul Fitri celebrations. Read More?