Indonesia’s Inflation Rate Increased by 2.18% in January

According to Indonesia’s Bureau of Statistics (BPS), annual inflation rose to 2.18% in January from 1.87% in December, exceeding the central bank’s target of 1.8%. This was the first time in two years that the official inflation rate rose by more than 2%. Analysts have predicted an increase of 2.15%.

The inflation rate also reached its highest level since May 2020, with the sharpest increase in food prices.

Annual core inflation (excluding government-controlled and volatile commodity prices) rose to 1.84% in January from 1.56% in December, above forecasts of 1.71 %

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