Consumer Price Index Indonesia: Remarkably Low May Inflation as Consumption Drops
Indonesia’s inflation rate was unusually mild in May 2020. According to the latest data from Statistics Indonesia (BPS), the country’s consumer price index (CPI) stood at 0.07 percent month-on-month (m/m) only.
However, it was no surprise. The self-imposed social and business restrictions curb household consumption in a way we have not seen before. And interestingly enough, these restrictions come at a time when household consumption typically peaks: the Ramadan and Idul Fitri celebrations. Hence, based on local news reports, the 0.07 percent (m/m) inflation rate in May 2020 was the nation’s lowest inflation rate amid these Islamic celebrations since 1978.
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Poll Indonesia Investments:
According to you at what pace will the Indonesian economy grow in 2020?
Voting possible: -
Results
- Lower than 0.0% (26.8%)
- Higher than 2.0% (17.9%)
- 0.5% - 1.0% (15.9%)
- 0.0% - 0.5% (15.8%)
- 1.0% - 1.5% (11.8%)
- 1.5% - 2.0% (11.8%)
Total amount of votes: 1025
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