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November 2, 2007

INDONESIA : Economy
year-on-year inflation eases slightly in October

Indonesia's annual inflation eased slightly to 6.88 percent in October compared to the same period a year ago, after the end of the Muslim fasting month and its celebrations, data showed Wednesday. The Consumer Price Index in Southeast Asia's largest economy was 0.79 percent higher than in September, said Rusman Heriawan, chairman of the Central Bureau of Statistics. For the first nine months, prices jumped 5.24 percent from the same period a year earlier, he said.

Inflation in September was up 0.80 percent from August and 6.95 percent from a year before. Demand for consumer goods usually picks up before and during the Idul-Fitri celebrations marking the end of Ramadan, which this year fell in mid-October. The inflation data were within the expectations of analysts. "After rising in the first two weeks, most prices of goods were declining in the third and fourth weeks," Heriawan told a press briefing. "Had we only used the prices at the second week, month-on-month inflation could have been more than 1.0 percent," he said.

Prices of fresh food increased 1.87 percent from September, prices of processed food, beverages and tobacco rose 0.51 percent, prices of clothing rose 2.05 percent and housing costs rose 0.21 percent. Healthcare costs increased 0.45 percent, costs of education, recreation and sport rose 0.21 percent and prices for transportation, communication and financial services rose 0.4 percent.

Courtesy AFP 

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