Consumer Price Index of Indonesia; Despite Tighter Restrictions July 2021 Brings Mild Inflation
While we expected to see some mild deflation in Indonesia amid subdued demand and consumption due to the tighter social and business restrictions on Java and Bali throughout the month of July 2021, there was some modest inflation last month.
Based on the latest data released by Indonesia’s Statistical Agency (in Indonesian: Badan Pusat Statistik or BPS), inflation was quite mild for Indonesia at 0.08 percent month-on-month (m/m) in July 2021, implying that demand is still lackluster across Indonesian society where there remains limited room for rising economic activity due to the tighter social and business restrictions (PPKM Level 3-4) in the economic centers.
Still, despite the tougher conditions, it did not lead to deflation. Core inflation too, which excludes energy and volatile food prices, remained positive at 0.05 percent (m/m) in July 2021.
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