Consumer Price Index in Indonesia: Inflation at 0.09% in April 2017
Indonesia's Statistics Agency (BPS) announced the nation's April 2017 inflation figure was recorded at 0.09 percent month-on-month (m/m), a relatively high inflation figure for Southeast Asia's largest economy considering the month of April usually brings deflation to Indonesia due to the peak of the harvest season (which causes sliding food prices).
Although food prices indeed continued to slide in Indonesia over the past month, there were significant inflationary pressures originating from the government's decision to raise electricity tariffs for 900 VA households in March 2017 (this was the second round of the government's electricity subsidy reform program this year).
On an annual basis, Indonesian inflation surged to 4.17 percent (y/y) in April 2017, a 13-month high and above the outlook that was given by most analysts. The nation's core inflation, excluding government administered and volatile food prices, was recorded at 3.28 percent in April.
The central bank of Indonesia (Bank Indonesia) targets to see full-year 2017 inflation within the range of 3 - 5 percent (y/y). Provided the government can keep inflationary pressures under control in the remainder of 2017 (specifically food prices), then this target can be achieved.
Inflation in Indonesia:
| Month | M/M Growth 2013 |
M/M Growth 2014 |
M/M Growth 2015 |
M/M Growth 2016 |
M/M Growth 2017 |
| January | 1.03% | 1.07% | -0.24% | 0.51% | 0.97% |
| February | 0.75% | 0.26% | -0.36% | -0.09% | 0.23% |
| March | 0.63% | 0.08% | 0.17% | 0.19% | -0.02% |
| April | -0.10% | -0.02% | 0.36% | -0.45% | 0.09% |
| May | -0.03% | 0.16% | 0.50% | 0.24% | |
| June | 1.03% | 0.43% | 0.54% | 0.66% | |
| July | 3.29% | 0.93% | 0.93% | 0.69% | |
| August | 1.12% | 0.47% | 0.39% | -0.02% | |
| September | -0.35% | 0.27% | -0.05% | 0.22% | |
| October | 0.09% | 0.47% | -0.08% | 0.14% | |
| November | 0.12% | 1.50% | 0.21% | 0.47% | |
| December | 0.55% | 2.46% | 0.96% | 0.42% | |
| Total | 8.38% | 8.36% | 3.35% | 3.02% |
Source: Statistics Indonesia (BPS)
Inflation in Indonesia and Central Bank (BI) Target 2008-2016:
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
| Inflation (annual % change) |
9.8 | 4.8 | 5.1 | 5.4 | 4.3 | 8.4 | 8.4 | 3.4 | 3.0 |
| BI Target (annual % change) |
5.0 | 4.5 | 5.0 | 5.0 | 4.5 | 4.5 | 4.5 | 4.0 | 4.0 |
Source: Bank Indonesia
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