Jakarta, CNBC Indonesia – The Central Statistics Agency (BPS) reports that Indonesia’s inflation in July 2020 is still low. Even calendar year inflation throughout 2020 has not touched 1%.
On Monday (3/8/2020), BPS announced that inflation in July was -0.1% month-to-month (MtM), aka deflation. This makes calendar year inflation (year-to-date/ YtD) to 0.98% and annual inflation (year-on-year/YoY) 1,54%.
Market consensus compiled by CNBC Indonesia estimates that monthly inflation will be 0.065%. While annual inflation is estimated at 1.72% and annual core inflation at 2.115%.
Whereas the Bank Indonesia (BI) Price Monitoring Survey (SPH) estimates July’s inflation rate of -0.03% MtM, deflation. Thus, annual inflation is thinner than the market projection of 1.61%. BI projections illustrate the lowest annual inflation since May 2000.