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Jakarta Post

Inflation stable in March but COVID-19 risks loom: Economists

  • Mardika Parama

    The Jakarta Post

Jakarta   /   Sat, April 4 2020   /  01:43 am

Indonesia recorded a benign inflation rate in March as government measures to maintain food prices remained in force, but the COVID-19 pandemic poses risks to this year’s outlook, economists have said.

The consumer price index (CPI) stood at 0.1 percent in March, slightly lower than the 0.11 percent recorded in the same month last year, Statistics Indonesia (BPS) announced on Wednesday. The annual inflation rate was recorded at 2.96 percent, much higher than the 2.48 percent in March last year but lower than the 2.98 percent in February.

“March inflation was due to the price hike of commodities in the personal care and food and beverage expenditure groups,” Bank Mandiri chief economist Andry Asmoro wrote in a research note on Wednesday. “The inflation was related to COVID-19 as the outbreak increased demand for hygiene products and online orders of food and beverage...