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View all search resultsInflation rises to nearly five-year high
BPS consumer price index was up 3.55 percent in May, marking the fastest annual rise since December 2017.
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nflation in Indonesia has risen at the fastest pace in almost five years as restricted supplies of food and energy in the global market impact domestic consumer prices.
Statistic Indonesia (BPS) reported on Thursday that its consumer price index was up 3.55 percent year-on-year (yoy) in May, marking an acceleration from the annual rate of 3.47 recorded in April.
“The 3.55 percent [annual inflation rate] is the highest since December 2017,” BPS head Margo Yuwono said in a press briefing on Thursday.
The rate is withing Bank Indonesia’s (BI) inflation target range of 2 to 4 percent.
Read also: Inflation jumps to nearly 3-year high, GDP growth steadies
On a monthly basis, however, consumer prices in May increased by 0.4 percent, significantly slower than the 0.95 percent rise seen in April, but faster than the 0.32 percent logged in May of last year.
The food, beverage and tobacco spending group was the largest driver of monthly inflation in May with a 0.20 percentage point contribution. Chicken eggs, fresh fish and shallots largely pushed up prices in this group.
