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Jakarta Post

Drought, gold rush can add to inflation pressures, BPS warns

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Mon, September 2, 2019   /  06:59 pm
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Statistics Indonesia (BPS) has warned that prolonged drought could result in higher food commodities prices.(JP/Seto Wardhana)

Statistics Indonesia (BPS) has warned that prolonged droughts could result in higher food commodity prices, while a recent uptick in gold investments could also add to inflation pressures. Indonesia’s consumer prices index (CPI), which measures inflation, rose to 3.49 percent in August year-on-year, the highest level in 19 months, as education spending rose at the start of the 2019-2020 academic year, according to BPS data released on Monday. Inflation in the education, recreation and sports categories rose 1.21 percent yoy last month, with tuition fee increases in all education levels, from elementary school to higher education, contributing 0.09 percent to the overall headline inflation. Although the headline inflation rate remained well within the government’s 3.5 percent target and the central bank’s target of between 2.5 percent and 4.5 percent, BPS head S...