Indonesia’s inflation edges down to lowest in 20 years as pandemic falters demands

03-Jun-2020 Intellasia | Xinhua | 6:02 AM Print This Post

Indonesia’s consumer price index slipped to the lowest level in 20 years in May as restrictions of people movements to endure the novel coronavirus had depressed demands.

The National Agency of Statistics on Tuesday said that the inflation in May drifted down 2.19 percent annualised from 2.67 percent in the preceding month.

The core inflation, excluding administered prices and volatile prices, shrank 2.65 percent in May on the yearly basis from 2.85 percent in April, the agency’s Head Kecuk Suhariyanto noted.

On the monthly basis, the inflation also drifted down 0.07 percent in May compared with 0.08 percent in April, he said.

The virus pandemic had made the inflation pattern differ in May which coincided with the Islamic festivity, said Suhariyanto.

As the world’s biggest Muslim country, Indonesia celebrates the Eid al-Fitr festivity with demands of goods and clothes usually leap.

“But the inflation this month is different from the figures in the preceding months,” Suhariyanto said.

The annual inflation in March settled at 2.96 percent, according to data from the agency.

Partial lockdowns along with the physical distancing to endure the virus pandemic had kept millions of people cooped up for weeks that cast demands stretched deep.

Indonesia is now gearing up for reopening the economy which has been dashed by the virus pandemic.

http://www.xinhuanet.com/english/2020-06/02/c_139107865.htm

 


Category: Indonesia

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