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Home » IANS » Indonesia’s inflation slips to lowest in 20 years

Indonesia’s inflation slips to lowest in 20 years

By IANS
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Jakarta, June 2 (IANS) Indonesia’s consumer price index slipped to the lowest level in 20 years in May as restrictions imposed due to the COVID-19 pandemic led to depressed demands, official figures revealed on Tuesday.

The National Agency of Statistics said that the inflation in May drifted down 2.19 per cent annualized from 2.67 per cent in the preceding month, reports Xinhua news agency.

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

On the monthly basis, the inflation also drifted down 0.07 per cent in May compared with 0.08 per cent 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 in terms of population, 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 per cent, 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.

As of Tuesday, the country had registered 26,940 COVID-19 cases, with 1,641 deaths.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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