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Inflation accelerates to 5.47% in February
Headline inflation came in higher than some analysts had forecast, while heavy rainfall and the upcoming Ramadan season will put upward pressure on consumer prices. On a monthly basis inflation eased slightly.
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Shoppers and vendors mill around Tanah Abang Market, Central Jakarta, in June 2020. (JP/Dhoni Setiawan)
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eadline inflation for February has come in higher than some analysts had forecast, while heavy rainfall and the upcoming Ramadan season will put upward pressure on consumer prices.
Despite the increase, however, annual inflation remains in the range of Bank Indonesia’s (BI) projection, and on a monthly basis, inflation actually eased slightly.
Statistics Indonesia (BPS) announced on Wednesday that the consumer price index (CPI) increased by 5.47 percent year-on-year (yoy) last month, faster than the 5.28 percent recorded in January.
However, the monthly inflation rate eased to 0.16 percent in February from the 0.34 percent increment logged in the preceding month.
Financial research firm Moody's Analytics had projected a softening of inflation to 5 percent.
The annual rise in consumer prices in February was driven by higher costs for transportation, with BPS registering a yearly increase of 13.59 percent, largely due to a fuel price hike in September last year.
Meanwhile, prices in the food, beverages and tobacco segment last month were up 7.23 percent from February 2022.
