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Jakarta Post

BI revises down inflation rate projection to 3.2 percent

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, November 12, 2018   /   01:55 pm
BI revises down inflation rate projection to 3.2 percent Bank Indonesia Governor Perry Warjiyo (Antara/Hafidz Mubarak)

Bank Indonesia has revised down its inflation rate projection to 3.2 percent year-on-year (yoy) from its initial projection of 3.4 percent this year, after studying the latest inflation figures.

Bank Indonesia Governor Perry Warjiyo estimated inflation in November at 0.16 percent, putting the January to November inflation at 3.32 percent, while the projection for yoy inflation in November was estimated at 3.12 percent.

He said the largest contributors to the inflation increase were shallots, rice and golf, while contributors to deflation included chicken meat and vegetables.

With the lower inflation projection, the central bank estimated that next year’s inflation would be lower than the figure stated in the 2019 state budget.

“The 2019 inflation estimate was at 3.6 percent or even 3.5 percent,” he added, as quoted by kontan.co.id.

Previously, Statistics Indonesia (BPS) announced that deflation in September was at 0.18 percent, higher than the 0.05 percent recorded in the previous month. The latest figure brings year-to-date (ytd) inflation to 1.94 percent, while yoy inflation stands at 2.88 percent. (bbn)