JAKARTA (XINHUA) – Indonesia posted a 2.51-per-cent annual inflation rate in June, down from the previous month’s 2.84 per cent, but still within the central bank’s target range of 1.5 per cent to 3.5 per cent, Statistics Indonesia (BPS) said yesterday.
“The annual inflation rate in June 2024 was 2.51 per cent, reflecting an increase in the consumer price index from 103.68 in June 2023 to 106.28 in June 2024,” said BPS Acting Chief Secretary Imam Machdi at a press conference.
Core inflation remained steady at 1.9 per cent, with the consumer price index rising from 102.25 in June 2023 to 104.19 in June 2024.
Price increases in food, beverages and tobacco contributed 4.95 per cent to the inflation rate, driven by global commodity price hikes and uncertain weather conditions.
Economic policy analyst at the Indonesian Employers Association Ajib Hamdani noted that the inflation slowdown is in contrast to the June annual trend, where inflation typically rises amid demand-boosting school holidays.
