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Consumer prices rose only slightly in November -- by an
average 0.18 percent from the previous month -- as food prices
continued to ease after the Idul Fitri holidays.
On a yearly basis, November inflation stood at 6.71 percent, the
Central Statistics Agency (BPS) reported Monday, having increased by
5.43 percent in the months since January.
The month-to-month and year-on-year inflation figures for November came
in at the lower end of what analysts had expected. However, consumer
prices are likely to face another seasonal pickup resulting from the
upcoming Idul Adha (Muslim Day of Sacrifice) holiday, and the Christmas
and New Year festivities.
Inflation in October eased from a monthly high this year of 0.8
percent, and an on-year rate of 6.95 percent in September -- with these
two months seeing the bulk of the year's inflationary pressures
resulting from higher demand during the Idul Fitri holidays and the
preceding Ramadhan fasting month.
The November inflation rate was calculated based on surveys by the BPS
in 45 major cities, with wide disparities in price movements being
recorded around the country. For example, prices rose by 2 percent in
Manado, but fell by 1.7 percent in Makassar.
On average, the country's consumers had to pay 0.04 percent more for
staple foodstuffs in November, which accounted for 0.02 percent of the
rise in monthly inflation. Meanwhile, processed food prices increased
by 0.43 percent, to account for another 0.08 percent.
"Prices of foodstuffs, such as meat, poultry, vegetables and sugar,
were down after Idul Fitri, although those of rice, cooking oil, flour
and spices were slightly up," BPS director Rusman Heriawan said in a
media briefing.
"This is probably due to the harvests of a number of crops being
affected by the recent changes in the weather."
Consumers saw a particular increase in the price of clothing, which was
up by 1.66 percent, accounting for half of November's monthly
inflation. Transportation and communications costs were, however, down
by 0.27 percent.
Coordinating Minister for the Economy Boediono said November's
inflation figures boded well for the achieving the government's 6.5
percent inflation target for this year.
"As long as we can keep the prices of staple foodstuffs and other basic
goods in check, then I think the target will be attainable," he told
reporters.
With an eye on predictions of higher imported inflation ahead due to
the surge in oil prices, the central bank might choose to refrain from
further rate cuts at its next meeting on Dec. 6.
The BPS also released Indonesia's latest trade figures Monday, which
saw total exports until the end of October rising by more than 13
percent to US$93.26 billion from the same period last year.
Total imports during January-October, meanwhile, amounted to $60 billion.
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