Indonesia posts inflation of 0.69% in July, higher than June

9

Photo BPS

JAKARTA (TheInsiderStories) – Indonesia recorded inflation of 0.69 percent in July from previous month driven by a rise of all product groups, led by food and transportation products in line with higher demand during Idul Fitri festivity in early July, the Central Statistic Bureau (BPS) announced.

In June Indonesia recorded inflation of 0.66 percent in June from previous month driven by volatile food prices

The year on year inflation in the month stood at 3.21 percent, while the calendar inflation – January to July- stood at 1.76 percent, the Head of BPS Suryamin said.

The core inflation in July was at 0.34 percent, while the core inflation year-on-year in May was at 3.49 percent.

BPS recorded that food products increased 1.12 percent in the month; processed food, cigarette, beverage and tobacco rose 0.54 percent; clothing rose 0.44 percent; health increased 0.37 percent; education, recreation and sport rose 0.51 percent; housing, water electricity, gas and fuel edged up by 0.24 percent; and transportation, communication and financial services rose 1.22 percent.

The inflation rate in July was below economists and Bank Indonesia’s projection. Bank Indonesia projected July inflation to rise to 0.74 percent from previous month, while Bank Central Asia economist David Sumual projected inflation at 0.9 percent (month on month), higher than previous month.

(*)

The post Indonesia posts inflation of 0.69% in July, higher than June appeared first on The Insider Stories.

Source: The Insiderstories
Indonesia posts inflation of 0.69% in July, higher than June

You might also like More from author

Comments are closed, but trackbacks and pingbacks are open.