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Inflation moves closer to 3 percent amid costly food prices
Although it remains at what can be considered a safe level, headline inflation has been stuck in an upward trend for the past three months as prices for key Indonesian ingredients experience an abnormal rise.
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Cheaper prices: A vendor displays bags of cayenne peppers in a subsidized food bazaar held by the Agriculture Ministry, in cooperation with the Trade and Cooperatives and Small and Medium Enterprises (SMEs) Ministries, in Pasar Minggu, South Jakarta, on Sunday. (thejakartapost.com/Viriya Paramita Singgih)
H
eadline inflation has been stuck in an upward trend for two consecutive months, following the higher prices of several food commodities, with some traditional market traders believing they may be experiencing an abnormal rise.
Annual inflation rose to 2.86 percent in November, according to Statistics Indonesia (BPS) on Friday. The latest figure moves much closer to 3 percent, the middle range of Bank Indonesia’s inflation target of between 2 and 4 percent.
Annual inflation hovered at 2.56 and 2.28 percent in October and September, respectively.
“The biggest annual inflation happened in the food, beverage and tobacco group at 6.71 percent, contributing 1.72 percent to the headline inflation,” said BPS official Edy Mahmud in the briefing.
Rice remained the largest driver of consumer price index (CPI) growth, contributing 0.58 percent in November, as it has been for a few months.
