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Indonesia’s annual inflation rises by 2.18pc in January

JAKARTA (XINHUA) – Indonesia’s annual inflation rate has risen by 2.18 per cent in January, the highest since May 2020, as household gas prices grew and interbank transfer fees fell, Statistics Indonesia (BPS) said yesterday.

The consumer price index (CPI) in the Southeast Asian country rose by 0.56 per cent from December last year, according to the BPS.

The inflation rate in January was slightly different from Bank Indonesia’s estimated rate of 2.15 per cent year-on-year and 0.53 per cent on a month-on-month basis, but it is still between the country’s central bank target of two to four per cent, BPS head Margo Yuwono told a press conference.

“The policy on reducing administration fees for interbank money transfers has curbed inflation by 0.01 per cent,” Yuwono noted.

In December 2021, the country’s CPI jumped by 1.87 per cent annually and 0.57 per cent over November 2021.