Enrico Tanuwidjaja, Economist at UOB Group, reviewed the latest inflation figures in Indonesia. Key Quotes “Inflation rate pick up in February at 2.98% y/y vis-à-vis January’s 2.68%, mainly driven by higher prices of garlic and cayenne. On a year-on-year basis, food inflation surged to 6.02% in February vs. 4.31% in January… Meanwhile, core inflation (which does not account for volatile food prices and administered prices) slowed slightly to 2.76% y/y vs. 2.88% a month earlier.” “We have expected higher inflationary pressure from food due to the COVID-19 outbreak as China is Indonesia’s main source of garlic, shallots, and onions; amounting to 94% of Indonesia’s import of edible vegetables (HS-07) in 2018… Going forward, we view that food inflation will continue to edge higher following disruption in imports of edible vegetables (HS-07) and edible fruits (HS-08) from China for the 1H 2020. In addition, we also expect higher headline inflation on the back of a rise in administered prices… Nevertheless, we continue to see the full year inflation average to register at 3.5%, well within 2.0% – 4.0% central bank’s official target range. Stable inflation rates will continue to bode well in supporting the overall economic growth momentum for Indonesia.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks: Mixed following Fed shock rate cut amid coronavirus fears FX Street 3 years Enrico Tanuwidjaja, Economist at UOB Group, reviewed the latest inflation figures in Indonesia. Key Quotes “Inflation rate pick up in February at 2.98% y/y vis-à-vis January’s 2.68%, mainly driven by higher prices of garlic and cayenne. On a year-on-year basis, food inflation surged to 6.02% in February vs. 4.31% in January... Meanwhile, core inflation (which does not account for volatile food prices and administered prices) slowed slightly to 2.76% y/y vs. 2.88% a month earlier.” “We have expected higher inflationary pressure from food due to the COVID-19 outbreak as China is Indonesia’s main source of garlic, shallots, and onions; amounting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.