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Jakarta sees lowest inflation in 5 years on weak demand
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National Monument Park or Monas Square is seen in this Jan. 2 file photo. The city recorded benign inflation last year due to the low demand of goods as a result of sluggish economic activities. (Shutterstock/Georgina Captures)
J
akarta, Indonesia's political and business capital, recorded benign inflation last year due the low demand of goods as a result of sluggish economic activities, Bank Indonesia (BI) announced in a report on Wednesday.
Inflation in the city eased to 2.37 percent year-on-year (yoy) last year, the lowest in five years. The figure is below the national inflation rate of 3.02 percent yoy.
BI attributed the low inflation particularly to the limited demand of goods from the public, coupled with low transportation costs as a result of low international oil prices.
Jakarta recorded economic growth of 5.75 percent in the third quarter of last year, higher than the national growth of 5.04 percent in the same period. However, the figure is the lowest quarterly basis in five years. More than 80 percent of the country's money in circulation is centered in the city of 14 million residents in the afternoon and eight million residents by evening. (ren)
