Ramadan Main Driver for 0.68% Inflation in May: BPS
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10 June 2019 16:20 WIB
TEMPO.CO, Jakarta - The central statistics agency, Statistics Indonesia or BPS, noted that inflation rate in May was 0.68 percent. The agency said the rate was pushed up by high consumption during the month of Ramadan.
May's inflation hike brings the year-to-date (ytd) inflation rate to 1.48 percent, while the year-on-year rate is 3.32 percent.
Related: BI Forecasts March Inflation to Reach 0.07 Percent
The actual inflation is above Bank Indonesia's (BI) projection, which they pegged at 0.47 percent. The main inflation cause was the price movements of volatile goods like food and ingredients.
"The demand for goods, especially food, rose during Ramadan, and we see this as the main cause [for inflation hike]," BPS chief Suhariyanto said on Monday.
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Meanwhile, core inflation accounted for 0.16 percent to the national inflation rate with a level of 0.27 percent in May.
"Annually, core inflation is still above the three-percent mark, at 3.12 percent, which shows that there is no weakening in purchase power," he remarked.
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