ASEAN KEY DESTINATIONS
Indonesia sees 0.22% deflation in August, lowest since 2001
Indonesia saw month-on-month (mm) deflation in August of 0.22 percent, due to a drastic decrease in staple food prices and transportation costs after Idul Fitri, according to the Central Statistics Agency (BPS).
BPS deputy head of distribution and service statistics Sasmito Hadi Wibowo said the August deflation was the lowest monthly figure the agency had seen in the past 15 years. On a year-to-date basis, the BPS reported 1.74 percent inflation while the year-on-year (yoy) inflation was 2.79 percent.
"This deflation is the lowest since August 2001 at 0.21 percent. Meanwhile, the year-on-year inflation is the lowest since 2009, which stood at 2.78 percent," he said in a press conference in Jakarta on Thursday.
The agency recorded August's core inflation at 0.36 percent mm and 3.34 percent yoy, the lowest since 2009. "In general, this is due to the persistently low global commodity prices, which affected all commodity prices," Sasmito said.
He added the month's deflation was mostly driven by deflation in transportation costs at -1.02 percent and -0.68 percent in staple food prices. "After Idul Fitri in July, staple food prices and transportation were drastically low in August," Sasmito said.
On the opposite end, education, recreation and sports posted the highest inflation in August, at 1.18 percent.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below
Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.