Consumer Price Index Update: Indonesian Inflation Accelerates in February 2020
Indonesia’s February 2020 inflation accelerated slightly more than analysts had expected. The consumer price index (CPI) increased 2.98 percent year-on-year (y/y), up from 2.68 percent (y/y) in the preceding month.
Rising food prices were the main reason why the CPI index rose, while the health expenditure group and personal care expenditure group also contributed significantly to national inflation.
Based on data from Statistics Indonesia (BPS), prices of garlic, red chilies, chicken meat, rice, cooking oil, and oranges caused inflationary pressures. Sharply rising prices of garlic may be related to the novel coronavirus outbreak as Indonesia imports most of its garlic from China. The virus outbreak is assumed to undermine trade flows, hence it could have led to declining garlic imports into Indonesia. Garlic prices doubled in February 2020.
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