Indonesia booked 0.55 percent month-to-month (mtm) inflation in June, lower than 0.68 percent in May, particularly due to higher food prices over Idul Fitri, Statistics Indonesia (BPS) announced on Monday.
June’s mtm inflation rate was lower than that in the same period last year, which stood at 0.59 percent.
BPS head Suhariyanto said June’s inflation was lower because Idul Fitri had fallen in the first week. “Consumer spending was concentrated in May this year, thus June’s inflation was lower than the last two years,” he explained during a press conference.
Despite the lower monthly rate, the latest inflation data brought year-to-date (ytd) inflation to 2.05 percent, while year-on-year (yoy) inflation stood at 3.28 percent.
June’s ytd inflation was higher than the figure in the same period of 2018, which was 1.9 percent but lower than the figure in 2017, which was 2.38 percent. This year’s June yoy inflation was also higher than 3.12 percent in June 2018 and lower than 4.37 percent in June 2017.
Suhariyanto said yoy inflation in June was still within the government’s target range of 3.5 percent to 4.5 percent.
Foodstuff prices rose by 1.63 percent mtm as chili, fish and vegetables were more expensive in June. Meanwhile, the price of chicken and eggs dropped. The prices of processed food, beverages, cigarettes and tobacco rose by 0.59 percent mtm in June.