Indonesian Local Market - Photo: Special

JAKARTA (TheInsiderStories)— Indonesia recorded inflation 0.28 percent in October from a deflation 0.18 percent in September, Statistics Indonesia reported on Thursday (01/11). In annual basis, there will be 3.16 percent from 3.20 percent in August.

“The development of various commodities price in October has generally increased. In addition, rural areas experienced a very deep deflation of 0.59 percent,” according to the Statistic Indonesia Chief Suhariyanto in a press conference at his office.

Among 82 cities surveyed and mostly inflated, Palu reached highest at 2.27 percent. The city just hit by 7.4 magnitude earthquake, followed by tsunami, on September 28th, which caused more than 2,000 casualties and 13.82 trillion Rupiah economic loss.

Suhariyanto explained that the inflation was caused by all index price increase, with red chili pepper, fuel, and house rent as the main factors.

Moreover, accumulated inflation during January-October was 2.22 percent. While year-on-year inflation maintained below target, at 3.16 percent.

This period’s inflation was the highest compared to October 2016 and 2017. But the year-on-year inflation was lower than two years before.

Suhariyanto said that although this year’s inflation realization is still on track, government must be prudent in facing seasonal inflation rise by the end of the year.

But he explained the inflation data is on the track and inline with government’ target 3 percent +/- 1 percent.

Responded on the inflation data, this morning the Rupiah opened up 0.13 percent to 11.00 a.m. at the level of 15.195 against the US dollar or rose 0.03 percent compared to the previous day.

Email: linda.silaen@theinsiderstories.com

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The Insider Stories Founder Linda Silaen has a solid, proven history, established over more than a decade as a journalist with a leading internasional news organization, of being the first with the biggest economic news stories in Indonesia. Specializing in corporate news, Linda is also a veteran of some of the biggest macroeconomic and general news stories as Indonesia rapidly transforms into a major market economy. One of the founders of the original blog from which this company developed, Linda’s knowledge of investors’ information communications and data us developed from unrivaled networking skills that make her a well-known name among CEOs, bankers, government officials and private equity investors both in Indonesia and other countries.

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