Inflation accelerates while House approves new BI governor
The consumer price index (CPI) growth rose to 3.19 year-on-year (yoy) in August, Statistics Indonesia (BPS) official Ateng Hartono revealed in a press conference on Tuesday, well within the government’s and Bank Indonesia’s (BI) target range of 2.5 plus/minus 1 percent.
In August, the annual inflation rate in Indonesia increased to 3.19 percent year-on-year, according to official figures from Statistics Indonesia (BPS). This rise in inflation occurred despite the government and Bank Indonesia (BI) aiming for a slightly higher rate, ranging between 2.5 percent and 3.5 percent. The August figure represents a reversal of the disinflationary trend seen in the previous month, when inflation slowed to 2.88 percent.
Ateng Hartono, a BPS official, reported that the increase in inflation was largely driven by rising food and transportation prices. Food prices, including those of chicken, fresh fish, cooking oil, rice, cigarettes, bird's eye chili, beef, and red chili, contributed 1.13 percentage points to the overall inflation. Transportation prices also rose significantly, with gasoline prices, airfares, engine lubricants, motorcycles, and cars being the primary factors.
The House of Representatives approved a new governor for Bank Indonesia (BI), adding monetary stability to the agenda following the sudden resignation of her predecessor. Core inflation, which excludes volatile food and administered prices, stood at 2.92 percent in August. Additionally, inflation in government-administered prices was recorded at 3.32 percent, while the volatile food inflation reached 4.06 percent.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
