Macroeconomic Analysis Series: BI Board of Governor Meeting, March 2024
Headline inflation spiked up to 2.75% (y.o.y) in February 2024 as the pressure from food prices were mounting due to the combination of supply-side
Headline inflation spiked up to 2.75% (y.o.y) in February 2024 as the pressure from food prices were mounting due to the combination of supply-side
Headline inflation eased to 2.57% (y.o.y) in January 2024 approaching the new target mid-point of 2.5%. Diminishing impact of El-Nino weather phenomenon on food
Stood at 2.61% (y.o.y) in December, Indonesia’s inflation rate throughout 2023 has shown a downward trend and been successfully kept within BI’s target range.
El-Nino still plays a major part in pushing inflation upward. Headline annual inflation climbed up to 2.86% (y.o.y) in November 2023. Contrary to the
Disruption in rice production due to the El Nino phenomenon resulted in an increase in inflation in October 2023, albeit not significantly, with the
Indonesia’s inflation figure fell below 3% in September due to the high-base effect from the same period last year. However, the inflation trends underscore
Indonesia’s inflation remained stable and aligned with the BI’s target range. August’s trends in core inflation, administered prices, and the volatile food group underscore
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