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Inflation dips again in February on weak consumer spending
Annual inflation decreased 0.17 percentage points from January to February, driven by the core inflation rate and government price controls, according to BPS.
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Children sleep against wooden crates near bags of chilies on March 1, 2021 at Kramat Jati Wholesale Market in East Jakarta. The increase in the price of bird's eye chilies was a contributing factor to a rise in the consumer price index (CPI) in February. (The Jakarta Post/P.J.Leo )
I
ndonesia saw annual inflation continue on a downward trend from January to February amid the ongoing pandemic response, which has put pressure on consumers.
Statistics Indonesia (BPS) on Monday announced annual inflation of 1.38 percent in February, lower than 1.55 percent in January and below Bank Indonesia’s target range of between 2 and 3 percent.
The figure was also lower than the pre-pandemic annual inflation of 2.98 percent in February 2020.
“This indicates that, until the end of February 2021, the impacts of the pandemic continued to haunt the economy, not only in Indonesia but also in other countries,” BPS head Suhariyanto told a virtual briefing on Monday.
“We need to be vigilant, as the pandemic will cause mobility to drop, the economic wheel to slow, affect incomes and eventually lead to weak demand,” he cautioned.
Read also: Indonesia records lowest inflation in history
February also recorded 0.10 percent inflation on a monthly basis, lower than 0.26 percent in January and the pre-pandemic level of 0.28 percent in February 2020.
