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Inflation stays low in March, but consumables prices rise nearing Ramadan
Indonesia's annual inflation rate in March stood at 1.37 percent and the monthly rate at 0.08 percent, both lower than the previous month and the same month last year.
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A firefighter sprays disinfectant at Kramat Jati wholesale market in East Jakarta on Monday. Authorities continue to disinfect public places, including traditional markets, to break the chain of COVID-19 transmissions. (JP/P.J.Leo)
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nflation remained low in March, mainly steadied by lower car prices, while the prices of some key consumables have started picking up nearing the country’s biggest holiday.
Statistics Indonesia (BPS) reported on Thursday the annual inflation rate stood at 1.37 percent in March 2021, lower than the 2.96 percent rate in March 2020, when Indonesia confirmed its first COVID-19 case. The March figure was also slightly lower than February’s annual inflation rate of 1.38 percent.
On a monthly basis, the March inflation rate stood at 0.08 percent, lower than both the rate in February of 0.28 percent and the same month last year, 0.10 percent.
“This inflation, if we examine it by expenditure group, is driven by food, beverages and tobacco, which contributed a substantial 0.1 percentage points,” BPS deputy for distribution and services statistics Setianto said in a virtual presser on Thursday.
The rising consumables prices comes as Indonesia nears the Ramadan holy month in mid-April, when demand for such commodities usually surges, particularly one week before the Idul Fitri holiday slated for mid-May.
The Trade Ministry forecasts the price of chili, sugar and other staple foods to fluctuate around 2 percent on a daily basis throughout the Ramadan-Idul Fitri holiday season.
Read also: Govt optimistic about food price stability through Ramadan, Idul Fitri
