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July's inflation lowest in five years: BPS
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Lower inflation – A woman buys vegetables at a traditional market kiosk in Jakarta recently. Bank Indonesia (BI) said on Wednesday that maintained inflation would improve Indonesia’s household consumption in the second quarter of 2016. (Tempo/-)
T
he Central Statistics Agency (BPS) has recorded an inflation rate of 0.69 percent month-on-month (mom) for July, slightly below Bank Indonesia’s (BI) forecast of 0.74 percent. It is the lowest July inflation rate in the last five years, the agency said in its latest report.
Indonesia recorded a 0.7 percent inflation rate in July 2012, followed by 3.29 percent in 2013, 0.93 percent in 2014 and 0.93 percent in 2015.
BPS head Suryamin explained that the month's inflation was driven by inflationary pressures on staple food prices and transportation costs due to Idul Fitri festivities.
He said transportation costs recorded the highest inflation rate, standing at 1.22 percent, in which land transportation and air transportation were the biggest contributors.
"Idul Fitri fell on July 6. There has been impacts from the Idul Fitri exodus," Suryamin said in Jakarta on Monday.
However, he said, if compared with the same period last year, transportation costs decreased by 1.49 percent in July.
According to the BPS, staple food prices recorded the second-highest inflation rate in July, standing at 1.12 percent mom. Food prices grew by 6.81 percent from the same period last year (yoy).
Processed food, beverages and cigarette and tobacco prices grew by 0.54 percent mom and 6.19 percent yoy. The inflation rate of housing, water, electricity, gas and fuel stood at 0.24 percent mom and 1.29 yoy. (ebf)
