JAKARTA (TheInsiderStories) – Statistic Indonesia reported the inflation in November 2018 recorded 0.27 percent on a month-to-month basis (MoM). While on an annual basis the inflation figure was recorded at 3.2 percent.
Head of Statistic Indonesia Suhariyanto, said all the components have experienced inflation last month. The highest inflation occurred in the transportation, communication and financial services group, which amounted to 0.56 percent with a contribution of 0.1 percent to total inflation.
The increase in inflation in this component occurred due to the increase in air transport rates which contributed 0.05 percent to the overall inflation numbers.
“The increase in air freight rates occurred because of an increase in demand. Air freight rates rise in 43 cities. The sharpest in Ambon, Ternate, and Sorong,” Suhariyanto told the media in Jakarta on Monday (12/03).
Not only in the transportation, communication and financial services groups, but foodstuffs also experienced inflation of 0.24 percent, with a contribution of 0.05 percent, he said. The increase in inflation in this segment of the economy occurred due to the rising prices of shallots and rice.
He explained that as many as 70 out of 82 cities experienced inflation whereas only 12 cities experienced deflation. The highest rises in inflation occurred in Merauke, Papua and the lowest in Balikpapan, East Kalimantan.
Even though November 2018 inflation figures are above expectations, it is still under control. In previous years, inflation in November tended to be higher because it was nearing year end.
President Joko Widodo also hopes that year-end inflation can still be controlled. He predicts, inflation at the end of the year will reach 3.2 percent.
Coordinating Minister for Economic Affairs, Darmin Nasution projected this year’s inflation forecast would be lower than in previous years. Last year, annual inflation stood at 3.5 percent, but with the realization of October 2018 and the announcement of the November 2018 figures, he predicted that year-end inflation would be around 3 percent.
“Inflation can be maintained well because economic data such as unemployment, poverty and the gini ratio are consistently improving,” he told reporters.
Written by Staff Editor, Email: firstname.lastname@example.org